Zacks Investment Research upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a research note published 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. “

A number of other equities analysts have also issued reports on AAON. TheStreet lowered Trade Desk from a b- rating to a c- rating in a research note on Thursday, May 9th. BidaskClub lowered Xperi from a sell rating to a strong sell rating in a research note on Wednesday, June 19th. Finally, DA Davidson restated a buy rating and issued a $90.00 target price on shares of Lumentum in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $40.50.

Shares of AAON opened at $49.85 on Monday. AAON has a 12 month low of $31.55 and a 12 month high of $52.50. The firm’s fifty day simple moving average is $48.29. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 54.29, a PEG ratio of 2.66 and a beta of 0.99.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $113.82 million during the quarter, compared to analysts’ expectations of $109.92 million. AAON had a return on equity of 19.79% and a net margin of 10.97%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. On average, equities research analysts forecast that AAON will post 1.28 earnings per share for the current year.

The company also recently announced a semiannual dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. AAON’s dividend payout ratio (DPR) is 39.51%.

In other AAON news, insider Rebecca Thompson sold 1,100 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $47.97, for a total transaction of $52,767.00. Following the sale, the insider now directly owns 10,960 shares of the company’s stock, valued at approximately $525,751.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen E. Wakefield sold 1,118 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $47.83, for a total value of $53,473.94. Following the sale, the vice president now directly owns 6,878 shares in the company, valued at $328,974.74. The disclosure for this sale can be found here. Insiders sold a total of 6,042 shares of company stock valued at $292,967 in the last 90 days. 22.24% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AAON. BlackRock Inc. grew its holdings in shares of AAON by 1.0% during the fourth quarter. BlackRock Inc. now owns 5,871,621 shares of the construction company’s stock worth $205,858,000 after purchasing an additional 60,268 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of AAON by 3.7% during the fourth quarter. Texas Permanent School Fund now owns 26,590 shares of the construction company’s stock worth $932,000 after purchasing an additional 939 shares during the last quarter. Raymond James & Associates grew its holdings in shares of AAON by 1.0% during the fourth quarter. Raymond James & Associates now owns 34,757 shares of the construction company’s stock worth $1,219,000 after purchasing an additional 354 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of AAON by 95.5% during the fourth quarter. Advisor Group Inc. now owns 5,635 shares of the construction company’s stock worth $198,000 after purchasing an additional 2,752 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of AAON by 5.6% during the fourth quarter. Citigroup Inc. now owns 32,271 shares of the construction company’s stock worth $1,131,000 after purchasing an additional 1,723 shares during the last quarter. 73.38% of the stock is currently owned by 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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