AAON’s (AAON) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of AAON (NASDAQ:AAON) in a report released on Tuesday morning,Benzinga reports. DA Davidson currently has a $110.00 target price on the construction company’s stock.

Other equities analysts have also issued reports about the company. Zacks Research lowered AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer dropped their target price on AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Finally, Robert W. Baird reduced their price target on shares of AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

AAON Stock Performance

NASDAQ AAON opened at $76.43 on Tuesday. AAON has a 52-week low of $73.19 and a 52-week high of $150.46. The company has a fifty day moving average of $88.74 and a 200-day moving average of $102.33. The company has a market capitalization of $6.30 billion, a P/E ratio of 39.81, a P/E/G ratio of 1.49 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01.

AAON (NASDAQ:AAON) last released its earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 101.2% on a year-over-year basis. As a group, equities research analysts predict that AAON will post 2.21 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON’s dividend payout ratio is presently 20.83%.

Insider Transactions at AAON

In related news, Director David Stewart acquired 1,000 shares of AAON stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average cost of $74.66 per share, with a total value of $74,660.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $298,640. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew Shaub acquired 457 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the acquisition, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This trade represents a 17.06% increase in their position. The disclosure for this purchase is available in the SEC filing. 18.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AAON

Several institutional investors and hedge funds have recently bought and sold shares of AAON. Royce & Associates LP grew its stake in shares of AAON by 9.6% in the fourth quarter. Royce & Associates LP now owns 467,496 shares of the construction company’s stock worth $35,647,000 after purchasing an additional 40,892 shares during the last quarter. Empowered Funds LLC purchased a new position in AAON during the 1st quarter valued at about $1,312,000. Wasatch Advisors LP raised its position in AAON by 3.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock valued at $296,664,000 after purchasing an additional 70,399 shares during the last quarter. California State Teachers Retirement System raised its position in AAON by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 80,436 shares of the construction company’s stock valued at $6,656,000 after purchasing an additional 14,878 shares during the last quarter. Finally, Next Century Growth Investors LLC lifted its holdings in AAON by 18.9% in the 4th quarter. Next Century Growth Investors LLC now owns 139,381 shares of the construction company’s stock worth $10,628,000 after buying an additional 22,148 shares during the period. 70.81% of the stock is currently owned by institutional investors.

AAON Company Profile

AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.

Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.