Zacks Investment Research upgraded shares of AAON (NASDAQ:AAON) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Aaon Inc. is a manufacturer of air-conditioning and heating equipment consisting of rooftop units, chillers, air-handling units, condensing units and coils. Its products serve the new construction and replacement markets. The Company has successfully gained market share through its semi-custom product lines, which offer the customer value, quality, function, serviceability and efficiency. “
Separately, BidaskClub raised shares of AAON from a sell rating to a hold rating in a research report on Friday, December 22nd.
AAON (NASDAQ AAON) traded up $0.60 during trading hours on Wednesday, reaching $38.05. 136,200 shares of the company’s stock were exchanged, compared to its average volume of 160,970. The firm has a market cap of $1,996.41, a P/E ratio of 40.48, a PEG ratio of 1.98 and a beta of 1.01. AAON has a twelve month low of $29.95 and a twelve month high of $38.25.
AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $113.67 million for the quarter, compared to analyst estimates of $111.76 million. AAON had a return on equity of 23.17% and a net margin of 12.77%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. analysts forecast that AAON will post 0.97 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, December 21st. Stockholders of record on Thursday, November 30th were given a dividend of $0.13 per share. This represents a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, November 29th. AAON’s dividend payout ratio (DPR) is 27.66%.
Several hedge funds have recently made changes to their positions in AAON. Schwab Charles Investment Management Inc. grew its position in shares of AAON by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 171,829 shares of the construction company’s stock worth $6,332,000 after buying an additional 1,481 shares during the period. Rhumbline Advisers grew its position in AAON by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 83,194 shares of the construction company’s stock valued at $3,066,000 after purchasing an additional 335 shares during the period. SG Americas Securities LLC acquired a new stake in AAON in the 2nd quarter valued at $220,000. Bank of New York Mellon Corp grew its position in AAON by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 840,585 shares of the construction company’s stock valued at $30,976,000 after purchasing an additional 23,265 shares during the period. Finally, Legal & General Group Plc grew its position in AAON by 8.8% in the 2nd quarter. Legal & General Group Plc now owns 77,065 shares of the construction company’s stock valued at $2,839,000 after purchasing an additional 6,222 shares during the period. 68.26% of the stock is owned by institutional investors.
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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.
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