AAON, Inc. (NASDAQ:AAON) Stock Has Consensus Target Price of $123.33

Key Points

• Analyst sentiment is moderately positive: Seven analysts give AAON a consensus “Moderate Buy” rating, with four buys and three holds, and an average 12-month price target of $123.33 versus the recent $82.28 share price.
• Quarterly results exceeded expectations: AAON reported earnings of $0.69 per share versus the $0.51 consensus estimate, while revenue rose 101.2% year over year to $626.98 million.
• Insiders and institutions increased exposure: Two company insiders recently purchased shares, while several major investment firms raised their holdings; institutional investors and hedge funds collectively own 70.81% of AAON.

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $123.33.

Several equities analysts have recently commented on the stock. Oppenheimer lowered their price target on shares of AAON from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. KeyCorp reiterated a "sector weight" rating on shares of AAON in a report on Thursday, August 13th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Zacks Research downgraded AAON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, DA Davidson restated a "buy" rating and issued a $110.00 target price on shares of AAON in a research note on Tuesday, September 15th.

Insider Activity at AAON

In other news, Director David Stewart acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the acquisition, the director owned 4,000 shares of the company's stock, valued at approximately $298,640. This represents a 33.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Shaub acquired 457 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the acquisition, the executive vice president directly owned 3,136 shares of the company's stock, valued at $239,653.12. The trade was a 17.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 18.09% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in shares of AAON by 3.1% in the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company's stock valued at $296,664,000 after purchasing an additional 70,399 shares during the last quarter. First Trust Advisors LP increased its position in AAON by 22.1% during the first quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company's stock worth $166,594,000 after buying an additional 364,101 shares during the last quarter. Geode Capital Management LLC increased its position in AAON by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,381,303 shares of the construction company's stock worth $105,343,000 after buying an additional 20,588 shares during the last quarter. Franklin Resources Inc. raised its holdings in AAON by 8,956.4% during the fourth quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company's stock valued at $93,231,000 after buying an additional 1,209,205 shares in the last quarter. Finally, Capital World Investors raised its holdings in AAON by 9.7% during the fourth quarter. Capital World Investors now owns 580,774 shares of the construction company's stock valued at $44,284,000 after buying an additional 51,428 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Stock Performance

AAON stock opened at $82.28 on Friday. The firm has a 50 day simple moving average of $83.19 and a 200 day simple moving average of $101.65. AAON has a 52 week low of $73.19 and a 52 week high of $150.46. The stock has a market cap of $6.78 billion, a P/E ratio of 42.85, a P/E/G ratio of 1.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share 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 firm had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. During the same quarter in the prior year, the business earned $0.22 EPS. The company's revenue for the quarter was up 101.2% compared to the same quarter last year. Research analysts anticipate that AAON will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, September 4th. AAON's payout ratio is currently 20.83%.

About AAON

AAON, Inc NASDAQ: AAON designs and manufactures high-efficiency heating, ventilation, and air conditioning (HVAC) equipment for commercial and industrial applications. The company is headquartered in Tulsa, Oklahoma, and was founded in 1988 by Norm Asbjornson.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers, and related HVAC components. AAON's equipment is used in applications such as office buildings, schools, healthcare facilities, retail properties, data centers, and other commercial or industrial structures.

AAON sells its products primarily through manufacturer representatives and other distribution channels serving customers in the United States and Canada.

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