William Blair Initiates Coverage on AAON (NASDAQ:AAON)

Investment analysts at William Blair started coverage on shares of AAON (NASDAQ:AAON - Get Free Report) in a research report issued on Monday, MarketBeat reports. The firm set an "outperform" rating on the construction company's stock.

AAON Price Performance

Shares of NASDAQ AAON traded up $2.70 during trading hours on Monday, reaching $93.85. 819,010 shares of the stock traded hands, compared to its average volume of 424,115. The company has a market capitalization of $7.71 billion, a P/E ratio of 43.89 and a beta of 0.91. The company has a quick ratio of 1.54, a current ratio of 3.23 and a debt-to-equity ratio of 0.05. AAON has a 52-week low of $52.24 and a 52-week high of $96.34. The company's 50-day simple moving average is $85.47 and its two-hundred day simple moving average is $73.40.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $306.60 million for the quarter, compared to analysts' expectations of $294.35 million. AAON had a return on equity of 27.20% and a net margin of 15.20%. The business's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Equities research analysts forecast that AAON will post 2.29 EPS for the current year.

Insider Transactions at AAON

In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the sale, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the sale, the director now directly owns 53,093 shares in the company, valued at $4,247,970.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen E. Wakefield sold 24,655 shares of AAON stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total value of $1,993,603.30. Following the sale, the vice president now owns 15,992 shares in the company, valued at $1,293,113.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,596 shares of company stock worth $3,613,768. 18.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AAON. Vanguard Group Inc. boosted its stake in shares of AAON by 57.2% in the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company's stock worth $425,936,000 after acquiring an additional 2,725,779 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in AAON by 46.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company's stock valued at $249,392,000 after buying an additional 1,380,751 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in AAON by 50.8% during the third quarter. Conestoga Capital Advisors LLC now owns 3,329,064 shares of the construction company's stock valued at $189,324,000 after buying an additional 1,120,754 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in AAON by 111.8% during the third quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company's stock valued at $91,361,000 after buying an additional 847,953 shares during the last quarter. Finally, Invesco Ltd. raised its position in AAON by 61.5% during the third quarter. Invesco Ltd. now owns 1,604,098 shares of the construction company's stock valued at $91,225,000 after purchasing an additional 610,949 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.