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

Key Points

• AAON has a consensus “Buy” rating from six covering analysts, with an average 12-month price target of $112. Recent reports included reaffirmed “outperform” ratings from William Blair and Oppenheimer, plus a Zacks upgrade to “strong-buy.”
• The company posted strong quarterly results, earning $0.48 per share versus expectations of $0.31 on revenue of $496.94 million, which topped estimates and rose 54.3% year over year.
• AAON also announced a quarterly dividend of $0.10 per share, payable June 26, while insiders and several institutional investors have been active in the stock recently.

AAON, Inc. (NASDAQ:AAON - Get Free Report) has received a consensus recommendation of "Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $112.00.

Several analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Oppenheimer reissued an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Finally, Zacks Research raised shares of AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th.

AAON Stock Down 4.9%

Shares of NASDAQ AAON opened at $129.45 on Wednesday. AAON has a 12-month low of $62.00 and a 12-month high of $150.46. The stock has a market cap of $10.60 billion, a PE ratio of 90.52, a P/E/G ratio of 3.81 and a beta of 1.39. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $122.06 and a 200 day moving average of $99.77.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business had revenue of $496.94 million during the quarter, compared to analysts' expectations of $381.08 million. During the same quarter in the prior year, the company posted $0.37 EPS. The business's revenue for the quarter was up 54.3% on a year-over-year basis. As a group, sell-side analysts predict that AAON will post 2.23 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON's dividend payout ratio is 27.97%.

Insider Activity at AAON

In other news, CAO Rebecca Thompson sold 21,914 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $100.21, for a total value of $2,196,001.94. Following the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at approximately $2,773,913.01. This represents a 44.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the completion of the transaction, the chief executive officer owned 114,371 shares in the company, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 150,473 shares of company stock valued at $19,516,213. 18.09% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of AAON by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 6,839,277 shares of the construction company's stock worth $521,495,000 after acquiring an additional 2,099,385 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in AAON by 96.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock worth $216,811,000 after buying an additional 1,138,658 shares in the last quarter. Wasatch Advisors LP lifted its holdings in AAON by 23.8% during the 1st quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company's stock worth $187,687,000 after buying an additional 436,704 shares in the last quarter. First Trust Advisors LP lifted its holdings in AAON by 22.1% during the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company's stock worth $166,594,000 after buying an additional 364,101 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in AAON by 5.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company's stock worth $135,421,000 after buying an additional 84,693 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

About AAON

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.