Zacks Investment Research upgraded shares of AAON, Inc. (NASDAQ:AAON) from a sell rating to a hold rating in a research report released 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 lowered AAON from a buy rating to a hold rating in a research note on Monday, July 24th.

Shares of AAON (AAON) traded down 0.71% during mid-day trading on Wednesday, reaching $35.10. The company’s stock had a trading volume of 52,321 shares. The company has a 50-day moving average of $32.89 and a 200-day moving average of $35.22. The firm has a market cap of $1.85 billion, a PE ratio of 36.56 and a beta of 0.97. AAON has a 12 month low of $27.45 and a 12 month high of $38.20.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The company had revenue of $101.30 million during the quarter, compared to analyst estimates of $111.24 million. AAON had a return on equity of 24.33% and a net margin of 13.32%. AAON’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, analysts predict that AAON will post $0.99 earnings per share for the current year.

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In related news, Director Jack E. Short sold 5,062 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.91, for a total transaction of $161,528.42. Following the completion of the sale, the director now owns 54,336 shares in the company, valued at $1,733,861.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.25% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in AAON by 132,761.8% during the first quarter. BlackRock Inc. now owns 4,753,796 shares of the construction company’s stock worth $168,047,000 after buying an additional 4,750,218 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in AAON by 0.4% during the second quarter. Neuberger Berman Group LLC now owns 3,588,053 shares of the construction company’s stock worth $132,220,000 after buying an additional 13,725 shares in the last quarter. Vanguard Group Inc. grew its holdings in AAON by 1.3% during the second quarter. Vanguard Group Inc. now owns 3,547,234 shares of the construction company’s stock worth $130,715,000 after buying an additional 43,958 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in AAON by 5.1% during the second quarter. Conestoga Capital Advisors LLC now owns 1,566,317 shares of the construction company’s stock worth $57,719,000 after buying an additional 75,443 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its holdings in AAON by 13.2% during the second quarter. Wasatch Advisors Inc. now owns 1,025,865 shares of the construction company’s stock worth $37,803,000 after buying an additional 119,468 shares in the last quarter. Institutional investors and hedge funds own 65.30% of the company’s stock.

About AAON

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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