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

AAON, Inc. (NASDAQ:AAON) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $133.00.

Several equities research analysts have recently weighed in on AAON shares. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson lifted their price target on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Robert W. Baird upped their price objective on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th.

AAON Trading Up 1.8 %

Shares of AAON stock opened at $120.01 on Friday. The firm’s 50 day moving average is $127.78 and its 200 day moving average is $105.79. The firm has a market capitalization of $9.75 billion, a PE ratio of 52.87 and a beta of 0.83. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON has a 1 year low of $68.38 and a 1 year high of $144.07.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, November 29th. AAON’s payout ratio is currently 14.10%.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,750 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total value of $804,195.00. Following the sale, the vice president now directly owns 9,920 shares in the company, valued at approximately $1,387,411.20. The trade was a 36.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Casey Kidwell sold 4,796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the transaction, the vice president now owns 4,953 shares of the company’s stock, valued at $675,490.14. This represents a 49.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,329 shares of company stock worth $7,663,726. 18.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On AAON

Institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc grew its stake in AAON by 6.6% during the second quarter. TD Asset Management Inc now owns 41,864 shares of the construction company’s stock valued at $3,652,000 after acquiring an additional 2,600 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of AAON by 217.6% in the second quarter. Victory Capital Management Inc. now owns 196,113 shares of the construction company’s stock worth $17,109,000 after purchasing an additional 134,355 shares during the period. Arizona State Retirement System raised its position in shares of AAON by 2.9% in the second quarter. Arizona State Retirement System now owns 19,536 shares of the construction company’s stock worth $1,704,000 after buying an additional 557 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in AAON during the second quarter valued at $1,239,000. Finally, Daiwa Securities Group Inc. boosted its stake in AAON by 69.2% during the second quarter. Daiwa Securities Group Inc. now owns 103,881 shares of the construction company’s stock valued at $9,063,000 after buying an additional 42,493 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.