AAON’s (AAON) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of AAON (NASDAQ:AAON) in a research note published on Tuesday, MarketBeat Ratings reports. DA Davidson currently has a $120.00 price objective on the construction company’s stock.

AAON has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of AAON in a research report on Tuesday, December 30th. Oppenheimer reaffirmed an “outperform” rating and set a $115.00 target price on shares of AAON in a research report on Friday, November 7th. Wall Street Zen cut AAON from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Zacks Research upgraded shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, AAON currently has a consensus rating of “Moderate Buy” and an average price target of $107.60.

AAON Price Performance

AAON stock opened at $92.89 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.03 and a current ratio of 3.04. AAON has a 52 week low of $62.00 and a 52 week high of $117.73. The stock has a market capitalization of $7.58 billion, a P/E ratio of 76.77 and a beta of 1.11. The stock has a fifty day moving average of $84.82 and a 200-day moving average of $88.34.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 6th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $384.24 million for the quarter, compared to the consensus estimate of $337.20 million. AAON had a net margin of 7.62% and a return on equity of 12.52%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. On average, sell-side analysts expect that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. AAON’s payout ratio is currently 33.06%.

Insider Activity

In other news, Director Gary D. Fields sold 3,553 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $105.14, for a total value of $373,562.42. Following the completion of the sale, the director owned 26,340 shares in the company, valued at $2,769,387.60. This represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen E. Wakefield purchased 4,141 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the completion of the acquisition, the executive vice president owned 15,212 shares of the company’s stock, valued at $1,180,299.08. The trade was a 37.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On AAON

Several institutional investors have recently modified their holdings of AAON. CBIZ Investment Advisory Services LLC bought a new stake in AAON during the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in shares of AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of AAON in the 2nd quarter worth about $26,000. Jones Financial Companies Lllp grew its position in AAON by 59.5% during the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock valued at $34,000 after buying an additional 141 shares during the period. Finally, Danske Bank A S bought a new position in AAON during the third quarter valued at about $47,000. 70.81% of the stock is owned by institutional investors.

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.