AAON (NASDAQ:AAON) Raised to Buy at Sidoti

AAON (NASDAQ:AAON - Get Free Report) was upgraded by equities research analysts at Sidoti from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has a $95.00 target price on the construction company's stock. Sidoti's price objective points to a potential upside of 30.15% from the stock's current price.

A number of other equities analysts have also recently issued reports on AAON. DA Davidson lowered their target price on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. CJS Securities raised 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. Wall Street Zen cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $111.50.

AAON Stock Down 1.6%

Shares of NASDAQ AAON opened at $72.99 on Monday. AAON has a 52-week low of $68.98 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The stock has a market cap of $5.94 billion, a P/E ratio of 32.15 and a beta of 1.03. The firm has a 50 day moving average price of $91.64 and a 200 day moving average price of $102.53.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. During the same quarter last year, the business posted $0.46 EPS. The firm's revenue was up 22.9% compared to the same quarter last year. Analysts expect that AAON will post 2.26 EPS for the current year.

AAON declared that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at AAON

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock worth $455,000 after purchasing an additional 244 shares during the period. Parallel Advisors LLC raised its stake in AAON by 26.3% during the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after buying an additional 149 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in shares of AAON in the 1st quarter valued at about $333,000. American Century Companies Inc. lifted its stake in AAON by 19.3% in the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock valued at $8,092,000 after buying an additional 11,140 shares during the period. Finally, Empowered Funds LLC bought a new position in AAON during the fourth quarter worth $42,000. 70.81% of the stock is 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.

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