Sidoti Downgrades AAON (NASDAQ:AAON) to Neutral

AAON (NASDAQ:AAON) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $111.00 target price on the construction company’s stock, up from their prior target price of $102.00. Sidoti’s target price would indicate a potential upside of 3.85% from the stock’s current price.

AAON has been the subject of a number of other reports. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. DA Davidson reaffirmed a “buy” rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Robert W. Baird boosted their price target on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Baird R W upgraded AAON to a “hold” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.00.

AAON Trading Down 0.2 %

Shares of AAON stock opened at $106.89 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. The stock has a fifty day simple moving average of $100.13 and a two-hundred day simple moving average of $89.11. The firm has a market capitalization of $8.79 billion, a PE ratio of 49.72 and a beta of 0.80. AAON has a 52-week low of $52.24 and a 52-week high of $113.86.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $313.57 million during the quarter, compared to analyst estimates of $283.77 million. AAON had a return on equity of 26.02% and a net margin of 15.60%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, analysts predict that AAON will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the transaction, the chief executive officer now owns 64,295 shares in the company, valued at approximately $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AAON 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 transaction of $1,779,460.61. Following the completion of the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Norman H. Asbjornson sold 11,022 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now owns 5,135 shares in the company, valued at $448,850.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of AAON by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after purchasing an additional 61,544 shares during the period. Dimensional Fund Advisors LP boosted its position in AAON by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,568,746 shares of the construction company’s stock valued at $136,857,000 after buying an additional 24,095 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in 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 valued at $95,010,000 after buying an additional 561,195 shares during the period. Bank of New York Mellon Corp grew its stake in AAON by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 958,225 shares of the construction company’s stock worth $83,596,000 after acquiring an additional 157,699 shares in the last quarter. Finally, BOKF NA increased its position in shares of AAON by 2.0% during the first quarter. BOKF NA now owns 681,522 shares of the construction company’s stock worth $59,960,000 after acquiring an additional 13,140 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About AAON

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.