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

Shares of AAON, Inc. (NASDAQ:AAON) have been given an average rating of “Buy” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $111.50.

A number of equities research analysts recently weighed in on AAON shares. Robert W. Baird lowered their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. DA Davidson lowered their target price 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. Sidoti raised shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Friday, February 28th. Finally, Wall Street Zen downgraded shares of AAON from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th.

Insider Transactions at AAON

In related news, Director Gordon Douglas Wichman sold 3,975 shares of AAON stock in a transaction on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the sale, the director now owns 8,754 shares in the company, valued at $925,735.50. The trade was a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary D. Fields sold 37,189 shares of AAON stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now owns 63,714 shares in the company, valued at approximately $6,256,714.80. This trade represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,823 shares of company stock worth $7,122,451. Insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

Large investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its holdings in AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock valued at $25,000 after acquiring an additional 276 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock valued at $26,000 after buying an additional 287 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of AAON during the 4th quarter valued at $33,000. Quarry LP boosted its holdings in shares of AAON by 49.0% during 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 in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of AAON during the 4th quarter valued at $42,000. Institutional investors own 70.81% of the company’s stock.

AAON Trading Down 1.4%

Shares of AAON stock opened at $71.78 on Friday. The company’s 50-day moving average price is $91.26 and its 200-day moving average price is $101.68. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 37.78 and a beta of 1.03. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. AAON has a 12-month low of $68.98 and a 12-month high of $144.07.

AAON (NASDAQ:AAON) last announced its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts expect that AAON will post 2.26 earnings per share for the current fiscal year.

AAON declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, June 6th. AAON’s dividend payout ratio is 21.05%.

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.