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 report sent to investors on Friday morning.

AAON has been the topic of several other research reports. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a report on Monday, June 16th. Finally, Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AAON has a consensus rating of "Buy" and a consensus price target of $111.50.

AAON Trading Up 0.2%

Shares of AAON stock traded up $0.16 on Friday, hitting $73.75. The stock had a trading volume of 596,680 shares, compared to its average volume of 654,034. 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 firm has a market capitalization of $6.00 billion, a P/E ratio of 38.82 and a beta of 1.03. AAON has a 1 year low of $68.98 and a 1 year high of $144.07. The company's 50 day moving average price is $89.91 and its 200-day moving average price is $98.30.

AAON (NASDAQ:AAON - Get Free Report) last posted 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 firm had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Analysts anticipate that AAON will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

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

AAON declared that its board has initiated a stock buyback program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the sale, the director directly owned 8,754 shares of the company's stock, valued at $914,617.92. This represents a 70.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the sale, the chief executive officer directly owned 63,714 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 70,823 shares of company stock valued at $7,122,451. Insiders own 18.55% of the company's stock.

Institutional Trading of AAON

Large investors have recently made changes to their positions in the company. Rakuten Securities Inc. boosted its position in shares of AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc lifted its position in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after acquiring an additional 287 shares during the period. Twin Tree Management LP acquired a new stake in AAON during the 4th quarter worth approximately $33,000. Quarry LP lifted its position in AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after acquiring an additional 103 shares during the period. Finally, Whittier Trust Co. acquired a new stake in AAON during the 4th quarter worth approximately $46,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.