Zacks Investment Research downgraded shares of AAON (NASDAQ:AAON) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

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. “

AAON has been the subject of a number of other research reports. BidaskClub lowered shares of AAON from a strong-buy rating to a buy rating in a report on Friday, August 7th. DA Davidson reissued an underperform rating on shares of AAON in a report on Friday, May 8th. Finally, ValuEngine lowered shares of AAON from a buy rating to a hold rating in a report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. AAON currently has an average rating of Hold and a consensus target price of $63.00.

NASDAQ AAON opened at $59.59 on Monday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 44.47 and a beta of 0.76. The company has a 50 day moving average of $56.31 and a 200-day moving average of $52.59. AAON has a 1-year low of $40.48 and a 1-year high of $61.09.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $134.08 million. AAON had a return on equity of 23.61% and a net margin of 14.18%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Research analysts expect that AAON will post 1.27 earnings per share for the current year.

In other AAON news, VP Mikel D. Crews sold 19,769 shares of AAON stock in a transaction on Monday, June 1st. The shares were sold at an average price of $54.52, for a total transaction of $1,077,805.88. Following the completion of the sale, the vice president now owns 37,283 shares of the company’s stock, valued at approximately $2,032,669.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mikel D. Crews sold 36,035 shares of AAON stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $56.35, for a total transaction of $2,030,572.25. In the last three months, insiders sold 160,673 shares of company stock valued at $9,054,476. 22.41% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its holdings in AAON by 11.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 1,979 shares of the construction company’s stock worth $107,000 after acquiring an additional 200 shares during the period. Chatham Capital Group Inc. grew its holdings in AAON by 0.5% during the 2nd quarter. Chatham Capital Group Inc. now owns 42,027 shares of the construction company’s stock worth $2,282,000 after acquiring an additional 215 shares during the period. PNC Financial Services Group Inc. grew its holdings in AAON by 11.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the construction company’s stock worth $108,000 after acquiring an additional 226 shares during the period. Alliancebernstein L.P. grew its holdings in AAON by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 66,863 shares of the construction company’s stock worth $3,304,000 after acquiring an additional 250 shares during the period. Finally, Strs Ohio grew its holdings in AAON by 9.7% during the 2nd quarter. Strs Ohio now owns 3,400 shares of the construction company’s stock worth $184,000 after acquiring an additional 300 shares during the period. 69.73% of the stock is owned by hedge funds and other institutional investors.

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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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