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

Key Points

• AAON has a “Moderate Buy” consensus rating from seven analysts: four recommend buying and three rate the stock a hold. The average 12-month price target is $126.67, although several analysts recently lowered their targets.
• AAON reported quarterly EPS of $0.69, beating the $0.51 consensus estimate, while revenue reached $626.98 million—up 101.2% year over year and above expectations.
• Institutional investors own 70.81% of AAON, and an executive recently increased his holdings by purchasing 457 shares. The company also declared a quarterly dividend of $0.10 per share, representing a 0.5% annualized yield.

AAON, Inc. (NASDAQ:AAON - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $126.6667.

AAON has been the subject of several recent analyst reports. Oppenheimer decreased their target price on AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research note on Tuesday, July 14th. KeyCorp reiterated a "sector weight" rating on shares of AAON in a research report on Thursday, August 13th. Robert W. Baird cut their price target on shares of AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research downgraded shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th.

Insider Activity at AAON

In other news, EVP Matthew Shaub bought 457 shares of AAON stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the acquisition, the executive vice president owned 3,136 shares of the company's stock, valued at $239,653.12. The trade was a 17.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in AAON by 12,636.0% in the second quarter. California State Teachers Retirement System now owns 10,244,326 shares of the construction company's stock valued at $1,299,595,000 after acquiring an additional 10,163,890 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of AAON by 512.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock valued at $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company's stock valued at $93,231,000 after acquiring an additional 1,209,205 shares during the last quarter. Norges Bank bought a new stake in AAON during the fourth quarter valued at $41,584,000. Finally, Wasatch Advisors LP raised its stake in AAON by 27.1% during the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company's stock worth $199,864,000 after acquiring an additional 456,560 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Price Performance

Shares of NASDAQ:AAON opened at $79.40 on Monday. AAON has a 1 year low of $73.19 and a 1 year high of $150.46. The firm's 50-day moving average is $95.30 and its two-hundred day moving average is $103.85. The firm has a market capitalization of $6.55 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The company had revenue of $626.98 million during the quarter, compared to analysts' expectations of $508.82 million. During the same quarter last year, the company posted $0.22 EPS. The firm's revenue was up 101.2% compared to the same quarter last year. Analysts predict that AAON will post 2.3 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's payout ratio is 20.83%.

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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