AAON (NASDAQ:AAON) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of AAON (NASDAQ:AAON - Free Report) from a sell rating to a hold rating in a research note published on Friday.

Several other equities research analysts have also recently commented on the stock. CJS Securities raised 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. DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Monday, June 16th. Finally, Robert W. Baird decreased 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $111.50.

AAON Trading Up 1.6%

Shares of AAON stock traded up $1.13 during trading hours on Friday, hitting $73.59. The company's stock had a trading volume of 1,981,884 shares, compared to its average volume of 685,438. The company has a market capitalization of $5.99 billion, a PE ratio of 38.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80. The stock has a 50 day moving average of $89.91 and a 200 day moving average of $98.76. AAON has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. AAON's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. Analysts predict that AAON will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. AAON's dividend payout ratio is presently 21.05%.

AAON declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at AAON

In related news, Director Gordon Douglas Wichman sold 3,975 shares of the company's stock in a transaction dated 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 represents a 31.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the sale, the chief executive officer now owns 63,714 shares of the company's stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 over the last 90 days. Company insiders own 18.70% of the company's stock.

Hedge Funds Weigh In On AAON

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in AAON by 0.7% in the 4th quarter. Amalgamated Bank now owns 34,957 shares of the construction company's stock valued at $4,114,000 after purchasing an additional 237 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of AAON in the fourth quarter valued at about $644,000. Oppenheimer Asset Management Inc. boosted its position in shares of AAON by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,901 shares of the construction company's stock valued at $1,989,000 after acquiring an additional 425 shares during the period. US Bancorp DE grew its stake in shares of AAON by 3.7% in the fourth quarter. US Bancorp DE now owns 50,259 shares of the construction company's stock valued at $5,914,000 after acquiring an additional 1,785 shares in the last quarter. Finally, West Michigan Advisors LLC bought a new position in AAON during the fourth quarter worth about $261,000. Institutional investors and hedge funds own 70.81% of the company's stock.

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.