AAON (NASDAQ:AAON) Upgraded at DA Davidson

AAON (NASDAQ:AAON) was upgraded by investment analysts at DA Davidson to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

Several other brokerages have also issued reports on AAON. Oppenheimer decreased their price target on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Robert W. Baird cut their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. KeyCorp restated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Finally, Zacks Research lowered AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, AAON presently has an average rating of “Moderate Buy” and an average price target of $126.67.

AAON Trading Down 0.6%

NASDAQ AAON opened at $76.52 on Thursday. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. AAON has a twelve month low of $73.19 and a twelve month high of $150.46. The firm has a market capitalization of $6.31 billion, a PE ratio of 39.85, a P/E/G ratio of 1.46 and a beta of 1.41. The stock’s 50 day moving average is $92.01 and its 200 day moving average is $103.17.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. The business had revenue of $626.98 million during the quarter, compared to the consensus estimate of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%.The firm’s quarterly revenue was up 101.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. Research analysts forecast that AAON will post 2.3 earnings per share for the current fiscal year.

Insider Transactions at AAON

In other AAON news, EVP Matthew Shaub acquired 457 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $76.42 per share, with a total value of $34,923.94. Following the transaction, the executive vice president owned 3,136 shares of the company’s stock, valued at $239,653.12. The trade was a 17.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Danske Bank A S purchased a new stake in shares of AAON during the third quarter valued at $47,000. Summit Securities Group LLC bought a new stake in AAON in the 4th quarter worth about $45,000. Huntington National Bank increased its holdings in AAON by 21.1% in the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after buying an additional 120 shares in the last quarter. Finally, NI Acquisitions Company LLC purchased a new position in AAON in the 2nd quarter worth about $102,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About AAON

AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.

Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.