AAON, Inc. (NASDAQ:AAON) Receives Average Recommendation of “Buy” from Brokerages

Shares of AAON, Inc. (NASDAQ:AAON) have earned an average rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $115.50.

Several research analysts have weighed in on AAON shares. Robert W. Baird dropped their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. DA Davidson decreased their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Friday, February 28th. Finally, StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 26,491 shares of the company’s stock, valued at $2,613,602.06. This trade represents a 23.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Raymond Stewart acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. 18.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after buying an additional 244 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of AAON by 5,040.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock worth $284,000 after purchasing an additional 2,369 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock worth $2,903,000 after purchasing an additional 21,548 shares during the last quarter. Caldwell Investment Management Ltd. bought a new position in shares of AAON in the 4th quarter worth $1,099,000. Finally, JPMorgan Chase & Co. boosted its position in shares of AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Up 1.3%

Shares of AAON stock opened at $105.95 on Wednesday. The stock’s fifty day moving average is $84.61 and its 200-day moving average is $108.05. The firm has a market capitalization of $8.62 billion, a PE ratio of 46.67 and a beta of 1.06. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON has a 12-month low of $68.98 and a 12-month high of $144.07.

AAON (NASDAQ:AAON) last posted its quarterly 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 for the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. AAON’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 earnings per share. Equities analysts anticipate that AAON will post 2.26 earnings per share for the current year.

AAON declared that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. AAON’s dividend payout ratio is presently 21.05%.

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.