AAON (NASDAQ:AAON) Stock Rating Lowered by StockNews.com

AAON (NASDAQ:AAON - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.

Several other equities research analysts have also recently weighed in on AAON. Baird R W upgraded AAON to a "hold" rating in a research report on Wednesday, July 24th. DA Davidson reiterated a "buy" rating and issued a $102.00 price objective on shares of AAON in a research report on Wednesday, June 26th. Finally, Robert W. Baird boosted their target price on AAON from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AAON currently has a consensus rating of "Hold" and an average price target of $102.00.

AAON Stock Performance

AAON stock traded up $1.81 during midday trading on Monday, reaching $95.51. The stock had a trading volume of 274,700 shares, compared to its average volume of 668,170. The firm has a market capitalization of $7.85 billion, a PE ratio of 44.42 and a beta of 0.80. AAON has a 12 month low of $52.24 and a 12 month high of $96.34. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average price is $88.44 and its 200 day moving average price is $84.32.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.02%. The company had revenue of $313.57 million during the quarter, compared to the consensus estimate of $283.77 million. During the same period last year, the firm earned $0.55 EPS. AAON's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts predict that AAON will post 2.29 earnings per share for the current fiscal year.

Insider Activity at AAON

In related news, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the transaction, the chief executive officer now owns 64,295 shares in the company, valued at approximately $5,542,871.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Stephen E. Wakefield sold 29,946 shares of AAON stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the sale, the vice president now directly owns 15,670 shares in the company, valued at approximately $1,412,337.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at approximately $5,542,871.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,609 shares of company stock valued at $5,441,927. Corporate insiders own 18.55% of the company's stock.

Institutional Investors Weigh In On AAON

Large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of AAON during the fourth quarter valued at approximately $43,832,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of AAON by 106.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company's stock worth $95,010,000 after acquiring an additional 561,195 shares in the last quarter. Blair William & Co. IL purchased a new position in AAON during the 2nd quarter valued at about $44,934,000. Millennium Management LLC boosted its stake in AAON by 212.3% during the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company's stock worth $57,278,000 after acquiring an additional 446,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of AAON by 552.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company's stock valued at $30,541,000 after purchasing an additional 296,423 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.

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