Brokerages Set AAON, Inc. (NASDAQ:AAON) PT at $115.50

AAON, Inc. (NASDAQ:AAON) has been given an average recommendation of “Buy” by the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $115.50.

AAON has been the subject of several research reports. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson cut their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Robert W. Baird cut their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th.

Insider Activity

In related news, CEO Gary D. Fields sold 8,357 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Raymond Stewart acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $242,580. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

A number of institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC increased its position in shares of AAON by 9.0% during the first quarter. Belpointe Asset Management LLC now owns 5,790 shares of the construction company’s stock valued at $452,000 after acquiring an additional 480 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AAON by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock worth $18,204,000 after acquiring an additional 12,489 shares during the last quarter. Ascent Group LLC acquired a new position in shares of AAON in the 1st quarter valued at $3,799,000. United Services Automobile Association acquired a new position in shares of AAON in the 1st quarter valued at $348,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after buying an additional 73,644 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Stock Performance

Shares of NASDAQ:AAON opened at $104.53 on Wednesday. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 46.05 and a beta of 1.06. AAON has a 12 month low of $68.98 and a 12 month high of $144.07. The firm’s 50-day moving average is $87.07 and its 200 day moving average is $107.65. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON (NASDAQ:AAON) last released 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 company had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Research analysts predict that AAON will post 2.26 EPS for the current year.

AAON announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.38%. AAON’s dividend payout ratio (DPR) is 21.05%.

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.