Brokerages Set AAON, Inc. (NASDAQ:AAON) PT at $121.75

Shares of AAON, Inc. (NASDAQ:AAON) have been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $115.50.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. CJS Securities upgraded 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, DA Davidson cut their price objective on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th.

AAON Price Performance

Shares of NASDAQ:AAON opened at $75.25 on Friday. The firm’s 50 day simple moving average is $115.69 and its two-hundred day simple moving average is $114.26. 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 company has a market capitalization of $6.12 billion, a P/E ratio of 33.15 and a beta of 0.87. AAON has a 1-year low of $69.52 and a 1-year high of $144.07.

AAON declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at AAON

In related news, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the sale, the vice president now owns 4,558 shares in the company, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the completion of the transaction, the chief financial officer now owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This represents a 22.42 % decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is owned by insiders.

Institutional Trading of AAON

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of AAON in the third quarter worth about $251,000. State of Alaska Department of Revenue boosted its position in AAON by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 7,865 shares of the construction company’s stock worth $848,000 after acquiring an additional 530 shares during the last quarter. New York State Teachers Retirement System boosted its position in AAON by 1.0% during the third quarter. New York State Teachers Retirement System now owns 19,312 shares of the construction company’s stock worth $2,083,000 after acquiring an additional 200 shares during the last quarter. Finally, Oak Ridge Investments LLC purchased a new stake in AAON during the 3rd quarter valued at about $3,322,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.