AAON, Inc. (NASDAQ:AAON) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• AAON has an average analyst rating of “Moderate Buy” from six brokerages, with four buy ratings and two hold ratings. The consensus 1-year price target is $112.
• The company recently reported strong quarterly results, beating EPS and revenue estimates with $0.48 EPS and $496.94 million in revenue. Revenue rose 54.3% year over year.
• AAON also declared a quarterly dividend of $0.10 per share, while insiders have been active sellers in recent months. Institutional investors continue to hold a large stake, owning 70.81% of the stock.

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $112.00.

Several brokerages have recently issued reports on AAON. Oppenheimer restated an "outperform" rating on shares of AAON in a report on Friday, May 8th. Zacks Research lowered shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research report on Tuesday.

AAON Stock Down 1.6%

AAON opened at $111.42 on Friday. AAON has a 12 month low of $62.00 and a 12 month high of $150.46. 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 business's 50-day moving average price is $128.38 and its 200-day moving average price is $104.32. The company has a market cap of $9.13 billion, a P/E ratio of 77.92, a P/E/G ratio of 3.12 and a beta of 1.41.

AAON (NASDAQ:AAON - Get Free Report) last issued its 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. The company had revenue of $496.94 million during the quarter, compared to analysts' expectations of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.AAON's quarterly revenue was up 54.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. On average, equities analysts expect that AAON will post 2.23 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. AAON's dividend payout ratio is presently 27.97%.

Insiders Place Their Bets

In other news, CAO Rebecca Thompson sold 4,230 shares of AAON stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total value of $606,666.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary D. Fields sold 19,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director directly owned 15,252 shares in the company, valued at $2,138,330.40. This trade represents a 55.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 150,473 shares of company stock worth $19,516,213. Insiders own 18.09% of the company's stock.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after buying an additional 164 shares during the period. Summit Securities Group LLC bought a new position in shares of AAON in the 4th quarter worth approximately $45,000. Danske Bank A S purchased a new position in shares of AAON in the 3rd quarter valued at approximately $47,000. Huntington National Bank boosted its position in shares of AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after purchasing an additional 120 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock worth $67,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

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.

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