AAON, Inc. (NASDAQ:AAON) Given Average Rating of “Buy” by Brokerages

Shares of AAON, Inc. (NASDAQ:AAON) have earned an average rating of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $115.50.

Several research firms have recently weighed in on AAON. DA Davidson cut their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. Robert W. Baird cut their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Friday, February 28th. Finally, Wall Street Zen cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Saturday.

AAON Stock Performance

AAON opened at $72.99 on Friday. AAON has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.94 billion, a PE ratio of 32.15 and a beta of 1.03. The firm has a 50 day moving average of $91.64 and a two-hundred day moving average of $103.00.

AAON (NASDAQ:AAON) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, analysts anticipate that AAON will post 2.26 EPS for the current year.

AAON announced that its board has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. AAON’s dividend payout ratio is currently 21.05%.

Insider Activity at AAON

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director now owns 8,754 shares of the company’s stock, valued at $914,617.92. The trade was a 70.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the sale, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This trade represents a 23.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AAON. Louisiana State Employees Retirement System raised its holdings in AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after buying an additional 100 shares during the period. HUB Investment Partners LLC raised its holdings in AAON by 5.2% in the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock valued at $237,000 after buying an additional 100 shares during the period. Smith Moore & CO. raised its holdings in AAON by 3.1% in the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock valued at $388,000 after buying an additional 100 shares during the period. Curi RMB Capital LLC raised its holdings in AAON by 0.5% in the 4th quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company’s stock valued at $2,177,000 after buying an additional 100 shares during the period. Finally, Quarry LP raised its holdings in AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.