Standpoint Research Downgrades AAON

Standpoint Research has downgraded shares of AAON, Inc. AAON from Buy to Hold. Since the recommendation on November 12, 2009, AAON shares have outperformed the S&P by around 2200 basis points, with a 25% gain in a market that is up around 3%. Standpoint believes that the shares are now fairly valued at 15x next year's earnings estimates. Standpoint analyst Ronnie Moas wrote that "we would consider reinstating this recommendation on a pull-back below $22." AAON shares have fallen as a result of this downgrade. On the day, the stock has fallen 0.73% to $24.32. AAON, Inc. (AAON) is engaged in the manufacture and sale of air-conditioning and heating equipment. Its products consist of rooftop units, chillers, air-handling units, make-up air units, heat recovery units, condensing units, commercial self contained units and coils.