AAON, Inc. (AAON) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of AAON, Inc. (NASDAQ:AAON) from a sell rating to a strong sell rating in a research report released on Friday morning.

Separately, Zacks Investment Research downgraded shares of AAON from a hold rating to a sell rating in a report on Monday, May 8th.

AAON (NASDAQ:AAON) remained flat at $31.65 on Friday. The stock had a trading volume of 118,746 shares. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 32.97 and a beta of 0.96. The company has a 50-day moving average of $35.26 and a 200 day moving average of $35.60. AAON has a 1-year low of $26.51 and a 1-year high of $38.20.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by $0.02. AAON had a net margin of 13.32% and a return on equity of 24.33%. The company had revenue of $101.30 million for the quarter, compared to the consensus estimate of $111.24 million. During the same period last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts forecast that AAON will post $1.00 earnings per share for the current fiscal year.

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In related news, VP Scott M. Asbjornson sold 9,815 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $36.71, for a total value of $360,308.65. Following the completion of the transaction, the vice president now owns 860,165 shares of the company’s stock, valued at approximately $31,576,657.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in shares of AAON by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,546 shares of the construction company’s stock worth $499,000 after buying an additional 35 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of AAON by 0.9% in the second quarter. Pinebridge Investments L.P. now owns 5,198 shares of the construction company’s stock worth $192,000 after buying an additional 48 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of AAON by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 4,360 shares of the construction company’s stock worth $154,000 after buying an additional 60 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of AAON by 1.3% in the second quarter. 1st Global Advisors Inc. now owns 7,294 shares of the construction company’s stock worth $269,000 after buying an additional 97 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of AAON by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 16,050 shares of the construction company’s stock worth $567,000 after buying an additional 100 shares during the last quarter. 66.18% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps and coils.