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

Key Points

• Zacks Research downgraded AAON from “strong-buy” to “hold”, though the broader analyst view remains relatively positive with a consensus rating of Moderate Buy and an average price target of $112.00.
• AAON shares were down 1.8% in Tuesday trading, opening at $107.98, below both the recent 50-day average of $127.20 and the 52-week high of $150.46.
• The company recently reported strong quarterly results, with EPS of $0.48 beating estimates and revenue of $496.94 million topping expectations, while insiders also sold shares in recent months.

AAON (NASDAQ:AAON - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Separately, Oppenheimer reiterated an "outperform" rating on shares of AAON in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.00.

AAON Trading Down 1.8%

Shares of AAON stock opened at $107.98 on Tuesday. AAON has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. 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's fifty day moving average is $127.20 and its two-hundred day moving average is $102.70. The firm has a market capitalization of $8.84 billion, a P/E ratio of 75.51, a PEG ratio of 3.08 and a beta of 1.41.

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

Insider Activity

In other AAON news, Director Gary D. Fields sold 31,271 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the completion of the transaction, the director owned 34,252 shares in the company, valued at $4,592,165.64. The trade was a 47.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the transaction, the chief executive officer owned 114,371 shares of the company's stock, valued at approximately $15,482,402.27. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 150,473 shares of company stock worth $19,516,213 over the last three months. Insiders own 18.09% of the company's stock.

Hedge Funds Weigh In On AAON

Several hedge funds have recently made changes to their positions in the company. SummitTX Capital L.P. lifted its holdings in shares of AAON by 1.7% in the 1st quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company's stock valued at $382,000 after purchasing an additional 76 shares during the last quarter. Toronto Dominion Bank increased its position in AAON by 1.7% during the fourth quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company's stock worth $448,000 after buying an additional 99 shares during the period. Huntington National Bank increased its position in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock worth $53,000 after buying an additional 120 shares during the period. EverSource Wealth Advisors LLC lifted its stake in AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of AAON by 20.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock valued at $80,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

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.

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