AAON (NASDAQ:AAON) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of AAON (NASDAQ:AAON) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Price Performance

Shares of AAON stock opened at $107.98 on Tuesday. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 75.51, a price-to-earnings-growth ratio of 3.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The stock has a 50 day moving average price of $127.20 and a 200-day moving average price of $102.70. AAON has a one year low of $62.00 and a one year high of $150.46.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. During the same quarter in the prior year, the firm posted $0.37 EPS. AAON’s quarterly revenue was up 54.3% compared to the same quarter last year. Equities analysts expect that AAON will post 2.23 EPS for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s dividend payout ratio is currently 27.97%.

Insiders Place Their Bets

In other AAON news, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the sale, the chief executive officer directly owned 114,371 shares in the company, valued at approximately $15,482,402.27. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the sale, the director directly owned 34,252 shares of the company’s stock, valued at approximately $4,592,165.64. This represents a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 150,473 shares of company stock valued at $19,516,213. 18.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after buying an additional 164 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of AAON during the fourth quarter valued at $45,000. Danske Bank A S purchased a new stake in shares of AAON during the third quarter valued at $47,000. Huntington National Bank increased its position in shares of AAON by 21.1% in the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after acquiring an additional 120 shares during the period. Finally, UMB Bank n.a. raised its stake in AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

About AAON

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.