AAON, Inc. (NASDAQ:AAON) Receives Average Recommendation of “Buy” from Analysts

Shares of AAON, Inc. (NASDAQ:AAON) have earned an average recommendation of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $133.00.

Several research analysts have issued reports on the company. Robert W. Baird boosted their target price on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. DA Davidson boosted their target price on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and raised their price target for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd.

AAON Stock Performance

NASDAQ AAON opened at $110.40 on Thursday. The business’s 50 day moving average price is $127.57 and its 200-day moving average price is $111.03. AAON has a fifty-two week low of $70.14 and a fifty-two week high of $144.07. The company has a market cap of $8.97 billion, a P/E ratio of 48.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business had revenue of $327.25 million for the quarter, compared to analysts’ expectations of $315.80 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that AAON will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. AAON’s dividend payout ratio is currently 14.10%.

Insider Activity at AAON

In other news, VP Casey Kidwell sold 1,421 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $135.14, for a total value of $192,033.94. Following the completion of the transaction, the vice president now directly owns 4,953 shares of the company’s stock, valued at approximately $669,348.42. The trade was a 22.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary D. Fields sold 35,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,329 shares of company stock worth $7,663,726 over the last three months. 18.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

Several institutional investors and hedge funds have recently bought and sold shares of AAON. AQR Capital Management LLC grew its stake in AAON by 66.0% during the 2nd quarter. AQR Capital Management LLC now owns 19,597 shares of the construction company’s stock worth $1,710,000 after buying an additional 7,789 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AAON by 55.0% during the second quarter. The Manufacturers Life Insurance Company now owns 58,751 shares of the construction company’s stock worth $5,125,000 after acquiring an additional 20,841 shares during the last quarter. Algert Global LLC acquired a new position in shares of AAON during the second quarter valued at about $1,779,000. Creative Planning raised its position in shares of AAON by 27.1% in the 2nd quarter. Creative Planning now owns 18,421 shares of the construction company’s stock valued at $1,607,000 after purchasing an additional 3,925 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in AAON by 32.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,495 shares of the construction company’s stock worth $567,000 after purchasing an additional 1,582 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

About AAON

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.