AAON, Inc. (NASDAQ:AAON) Given Average Rating of "Buy" by Brokerages

AAON, Inc. (NASDAQ:AAON - Get Free Report) has been given a consensus rating of "Buy" by the five research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $115.50.

Several equities research analysts have commented on the stock. StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Robert W. Baird decreased their price target on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock 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 for the company in a research note on Friday, February 28th. Finally, DA Davidson dropped their target price on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now owns 63,714 shares of the company's stock, valued at approximately $6,256,714.80. This represents a 36.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00% increase in their position. The disclosure for this purchase can be found here. 18.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ascent Group LLC acquired a new position in AAON during the first quarter worth $3,799,000. United Services Automobile Association acquired a new position in AAON in the first quarter worth about $348,000. Goldman Sachs Group Inc. boosted its holdings in AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock valued at $33,669,000 after purchasing an additional 73,644 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock worth $1,271,000 after buying an additional 294 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after buying an additional 65,813 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Trading Down 1.2%

NASDAQ AAON traded down $1.23 on Wednesday, hitting $105.64. 28,121 shares of the stock were exchanged, compared to its average volume of 663,918. AAON has a 52-week low of $68.98 and a 52-week high of $144.07. The firm has a market capitalization of $8.60 billion, a P/E ratio of 46.39 and a beta of 1.06. The stock has a fifty day moving average price of $86.05 and a two-hundred day moving average price of $107.73. 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 (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Research analysts forecast that AAON will post 2.26 EPS for the current fiscal year.

AAON declared that its board has initiated a share buyback 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 an indication that the company's management believes its shares are undervalued.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. AAON's dividend payout ratio (DPR) is 21.05%.

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.