AAON, Inc. (NASDAQ:AAON) Receives Consensus Recommendation of “Buy” from Analysts

Shares of AAON, Inc. (NASDAQ:AAON) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $115.50.

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

AAON Trading Up 4.9 %

Shares of AAON opened at $83.58 on Tuesday. AAON has a 12 month low of $69.52 and a 12 month high of $144.07. The stock’s 50-day moving average is $103.67 and its two-hundred day moving average is $113.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a market cap of $6.82 billion, a PE ratio of 36.82 and a beta of 1.00.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. AAON’s dividend payout ratio is 19.90%.

AAON announced that its board has authorized a stock 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 reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 18.55% of the company’s stock.

Hedge Funds Weigh In On AAON

Several large investors have recently added to or reduced their stakes in AAON. Wellington Management Group LLP acquired a new stake in shares of AAON during the fourth quarter worth $8,310,000. Wealth Enhancement Advisory Services LLC acquired a new stake in AAON during the fourth quarter worth about $210,000. Park Square Financial Group LLC bought a new position in AAON in the fourth quarter worth about $57,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in AAON in the fourth quarter valued at approximately $8,920,000. Finally, Forum Financial Management LP bought a new position in shares of AAON during the fourth quarter valued at approximately $202,000. 70.81% 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. 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.