Wall Street Zen Downgrades AAON (NASDAQ:AAON) to Sell

AAON (NASDAQ:AAON) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Wednesday, October 8th. William Blair reaffirmed an “outperform” rating on shares of AAON in a report on Tuesday, December 30th. Zacks Research upgraded AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Oppenheimer restated an “outperform” rating and set a $115.00 target price on shares of AAON in a research note on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.60.

AAON Trading Up 4.5%

NASDAQ:AAON opened at $94.08 on Friday. AAON has a 12-month low of $62.00 and a 12-month high of $137.90. The firm has a market cap of $7.68 billion, a PE ratio of 77.75 and a beta of 1.08. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $85.31 and a 200 day moving average price of $86.83.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 6th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. AAON had a return on equity of 12.52% and a net margin of 7.62%.The business had revenue of $384.24 million during the quarter, compared to analysts’ expectations of $337.20 million. During the same quarter last year, the business posted $0.63 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gary D. Fields sold 3,553 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $105.14, for a total value of $373,562.42. Following the completion of the sale, the director directly owned 26,340 shares of the company’s stock, valued at approximately $2,769,387.60. This represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen E. Wakefield bought 4,141 shares of the stock in a transaction dated Friday, December 12th. The shares were acquired at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the completion of the transaction, the executive vice president owned 15,212 shares of the company’s stock, valued at approximately $1,180,299.08. The trade was a 37.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 18.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after buying an additional 65,813 shares during the last quarter. NewEdge Advisors LLC lifted its position in AAON by 1.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after acquiring an additional 294 shares during the period. Goldman Sachs Group Inc. lifted its position in AAON by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock worth $33,669,000 after acquiring an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after purchasing an additional 12,489 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of AAON by 79.5% in the second quarter. Parallel Advisors LLC now owns 1,285 shares of the construction company’s stock valued at $95,000 after purchasing an additional 569 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.