AAON, Inc. (NASDAQ:AAON) Given Consensus Recommendation of "Buy" by Brokerages

AAON, Inc. (NASDAQ:AAON - Get Free Report) has been assigned an average rating of "Buy" from the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $115.50.

AAON has been the topic of several recent research reports. 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. DA Davidson dropped their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Wall Street Zen cut shares of AAON from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Robert W. Baird lowered their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th.

Insider Activity at AAON

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the transaction, the director now directly owns 8,754 shares of the company's stock, valued at $914,617.92. This trade represents a 70.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the transaction, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at $2,613,602.06. The trade was a 23.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock valued at $7,122,451 in the last three months. 18.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently modified their holdings of the stock. Twin Tree Management LP purchased a new position in shares of AAON in the 4th quarter valued at approximately $33,000. Quarry LP raised its position in AAON by 49.0% during the 4th 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. Rakuten Securities Inc. raised its position in AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after buying an additional 276 shares during the last quarter. Versant Capital Management Inc raised its position in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in AAON during the 4th quarter worth approximately $42,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Down 1.6%

Shares of AAON stock opened at $72.99 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON has a 1 year low of $68.98 and a 1 year high of $144.07. The firm's 50-day moving average is $91.64 and its two-hundred day moving average is $103.00. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 32.15 and a beta of 1.03.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same period in the prior year, the business earned $0.46 EPS. The firm's quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts expect that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio is currently 21.05%.

AAON announced that its board has authorized a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.

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