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

Shares of AAON, Inc. (NASDAQ:AAON) have been given a consensus recommendation of “Buy” by the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $115.50.

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

AAON Stock Performance

Shares of NASDAQ AAON opened at $78.08 on Tuesday. AAON has a 1 year low of $69.52 and a 1 year high of $144.07. The firm has a market cap of $6.37 billion, a P/E ratio of 34.40 and a beta of 1.00. The stock has a fifty day moving average price of $99.75 and a two-hundred day moving average price of $112.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s dividend payout ratio is 19.90%.

AAON declared that its Board of Directors has approved 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 repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

A number of institutional investors have recently added to or reduced their stakes in AAON. Mather Group LLC. lifted its stake in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Twin Tree Management LP acquired a new position in AAON during the fourth quarter worth $33,000. Westside Investment Management Inc. bought a new position in AAON during the third quarter valued at about $36,000. Quarry LP lifted its position in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after buying an additional 103 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.