AAON Inc. (AAON) Coverage Initiated by Analysts at Jefferies Group

Jefferies Group initiated coverage on shares of AAON Inc. (NASDAQ:AAON) in a research note released on Thursday. The brokerage issued a buy rating and a $30.00 price target on the stock.

Separately, Zacks Investment Research downgraded shares of AAON from a buy rating to a hold rating in a research note on Tuesday, August 9th.

Shares of AAON (NASDAQ:AAON) traded up 0.51% during midday trading on Thursday, hitting $29.45. 14,408 shares of the company traded hands. AAON has a 52 week low of $19.06 and a 52 week high of $30.80. The stock has a market capitalization of $1.56 billion, a PE ratio of 30.97 and a beta of 1.30. The stock has a 50 day moving average of $28.59 and a 200-day moving average of $27.51.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, August 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm earned $102.30 million during the quarter, compared to the consensus estimate of $98.03 million. AAON had a net margin of 13.54% and a return on equity of 27.11%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. Equities analysts forecast that AAON will post $1.00 earnings per share for the current fiscal year.

In other news, insider Rebecca Thompson sold 1,792 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $28.00, for a total value of $50,176.00. Following the completion of the transaction, the insider now directly owns 20,365 shares in the company, valued at $570,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.91% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its position in AAON by 7.1% in the second quarter. Neuberger Berman Group LLC now owns 3,438,699 shares of the company’s stock worth $94,599,000 after buying an additional 228,804 shares during the period. Vanguard Group Inc. raised its position in AAON by 2.3% in the second quarter. Vanguard Group Inc. now owns 3,217,799 shares of the company’s stock worth $88,522,000 after buying an additional 71,586 shares during the period. BlackRock Fund Advisors raised its position in AAON by 2.1% in the second quarter. BlackRock Fund Advisors now owns 2,523,401 shares of the company’s stock worth $69,419,000 after buying an additional 52,813 shares during the period. Conestoga Capital Advisors LLC raised its position in AAON by 5.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,478,609 shares of the company’s stock worth $42,614,000 after buying an additional 82,440 shares during the period. Finally, Macquarie Group Ltd. raised its position in AAON by 26.8% in the second quarter. Macquarie Group Ltd. now owns 929,789 shares of the company’s stock worth $25,578,000 after buying an additional 196,664 shares during the period. Institutional investors own 58.68% of the company’s stock.

About AAON

AAON, Inc (AAON) is engaged in the manufacture and sale of air-conditioning and heating equipment. The Company’s products consist of rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, self-contained units and coils.

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