Todays Report: The Jefferies Group Initiates Coverage on AAON Inc. (AAON)

The Jefferies Group Initiates Coverage on AAON Inc. (AAON)

Jefferies Group assumed coverage on shares of AAON Inc. (NASDAQ:AAON) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a $30.00 price target on the stock. Jefferies Group’s price target suggests a potential upside of 1.35% from the stock’s previous close.

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

Shares of AAON (NASDAQ:AAON) opened at 29.60 on Thursday. The firm has a market capitalization of $1.57 billion, a PE ratio of 31.13 and a beta of 1.30. The company has a 50 day moving average of $28.55 and a 200 day moving average of $27.50. AAON has a 52-week low of $19.06 and a 52-week high of $30.80.

AAON (NASDAQ:AAON) last posted its quarterly earnings data 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 business 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 quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, analysts anticipate that AAON will post $1.00 earnings per share for the current fiscal year.

In other AAON news, insider Rebecca Thompson sold 1,792 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 20,365 shares of the company’s stock, valued at approximately $570,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.91% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of AAON. Arizona State Retirement System increased its stake in AAON by 1.0% in the second quarter. Arizona State Retirement System now owns 20,622 shares of the company’s stock valued at $567,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. increased its stake in AAON by 5.8% in the second quarter. PineBridge Investments L.P. now owns 5,044 shares of the company’s stock valued at $139,000 after buying an additional 277 shares during the last quarter. BlackRock Advisors LLC increased its stake in AAON by 1.8% in the second quarter. BlackRock Advisors LLC now owns 18,929 shares of the company’s stock valued at $521,000 after buying an additional 343 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in AAON by 4.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 10,250 shares of the company’s stock valued at $282,000 after buying an additional 394 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in AAON by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 6,019 shares of the company’s stock valued at $166,000 after buying an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

AAON Company Profile

Related posts

Leave a Comment