AAON (NASDAQ:AAON) Upgraded at Zacks Research

Key Points

• AAON has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, reflecting a shift in analyst sentiment.
• Oppenheimer raised its price target for AAON from $105.00 to $112.00, while other firms adjusted their ratings, indicating mixed analyst opinions on the stock.
• The company's stock opened at $104.16, showing a 2.2% increase, and it has a market capitalization of $8.49 billion with a price-to-earnings ratio of 70.86.

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

A number of other research firms also recently weighed in on AAON. Oppenheimer raised their price target on shares of AAON from $105.00 to $112.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. DA Davidson reduced their price objective on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research note on Wednesday, October 8th. Finally, Robert W. Baird reduced their price objective on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, AAON presently has an average rating of "Moderate Buy" and an average target price of $104.00.

AAON Stock Up 2.2%

Shares of NASDAQ:AAON opened at $104.16 on Monday. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. AAON has a 52-week low of $62.00 and a 52-week high of $144.07. The company has a 50 day moving average of $87.57 and a two-hundred day moving average of $85.63. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 70.86 and a beta of 1.05.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 earnings per share (EPS) for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company had revenue of $322.05 million during the quarter. As a group, analysts forecast that AAON will post 2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Thompson sold 9,350 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the transaction, the chief financial officer directly owned 24,396 shares in the company, valued at $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. PFG Advisors grew its holdings in AAON by 114.8% during the first quarter. PFG Advisors now owns 20,836 shares of the construction company's stock worth $1,628,000 after acquiring an additional 11,136 shares during the period. Teacher Retirement System of Texas acquired a new position in AAON during the first quarter worth about $789,000. Wealth Enhancement Advisory Services LLC grew its holdings in AAON by 1,485.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,329 shares of the construction company's stock worth $2,213,000 after acquiring an additional 26,542 shares during the period. Sequoia Financial Advisors LLC grew its holdings in AAON by 49.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock worth $250,000 after acquiring an additional 1,054 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in AAON during the first quarter worth about $245,000. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.