AAON (NASDAQ:AAON) Upgraded at Sidoti

Sidoti upgraded shares of AAON (NASDAQ:AAON - Free Report) from a neutral rating to a buy rating in a research report released on Monday, MarketBeat.com reports. Sidoti currently has $95.00 price target on the construction company's stock.

AAON has been the topic of a number of other reports. DA Davidson lowered their price target on shares of AAON from $150.00 to $125.00 and set a "buy" 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 objective on the stock in a research report on Friday, February 28th. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Robert W. Baird cut their target price on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, AAON currently has an average rating of "Moderate Buy" and a consensus price target of $111.50.

AAON Stock Performance

AAON stock traded down $1.03 on Monday, hitting $71.78. The company's stock had a trading volume of 817,699 shares, compared to its average volume of 680,699. The firm has a 50 day moving average of $91.26 and a two-hundred day moving average of $101.68. AAON has a 1 year low of $68.98 and a 1 year high of $144.07. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 37.78 and a beta of 1.03. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

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, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities analysts predict that AAON will post 2.26 EPS for the current fiscal year.

AAON announced that its board has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. AAON's dividend payout ratio is presently 21.05%.

Insider Buying and Selling

In related news, Director Gordon Douglas Wichman sold 3,975 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the transaction, the director now owns 8,754 shares in the company, valued at approximately $925,735.50. This trade represents a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 8,357 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,823 shares of company stock valued at $7,122,451. Insiders own 18.70% of the company's stock.

Hedge Funds Weigh In On AAON

A number of hedge funds have recently added to or reduced their stakes in AAON. Empowered Funds LLC acquired a new position in AAON in the fourth quarter worth $42,000. Van ECK Associates Corp boosted its holdings in AAON by 34.5% in the fourth quarter. Van ECK Associates Corp now owns 66,044 shares of the construction company's stock worth $7,772,000 after purchasing an additional 16,933 shares during the period. New York State Teachers Retirement System boosted its holdings in AAON by 6.6% in the fourth quarter. New York State Teachers Retirement System now owns 20,583 shares of the construction company's stock worth $2,422,000 after purchasing an additional 1,271 shares during the period. Congress Asset Management Co. acquired a new position in AAON in the fourth quarter worth $289,000. Finally, CIBC Asset Management Inc boosted its holdings in AAON by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,454 shares of the construction company's stock worth $289,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

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.