AAON, Inc. (NASDAQ:AAON) Receives $115.50 Average Price Target from Analysts

Shares of AAON, Inc. (NASDAQ:AAON) have been given a consensus rating of “Buy” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $111.50.

Several equities research analysts have recently commented on the company. Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Monday, June 16th. Wall Street Zen cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Friday, February 28th.

Insiders Place Their Bets

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total value of $2,225,632.96. Following the sale, the director now directly owns 8,754 shares in the company, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the transaction, the chief executive officer now directly owns 63,714 shares of the company’s stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,823 shares of company stock worth $7,122,451. Insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

Hedge funds have recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new stake in shares of AAON in the fourth quarter worth about $33,000. Quarry LP grew its position in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. increased its stake in AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock worth $25,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc raised its holdings in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock worth $26,000 after buying an additional 287 shares during the period. Finally, Empowered Funds LLC bought a new position in AAON in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Trading Up 0.4%

AAON opened at $72.09 on Friday. AAON has a 1-year low of $68.98 and a 1-year high of $144.07. The stock has a market capitalization of $5.87 billion, a PE ratio of 37.94 and a beta of 1.03. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $90.85 and a two-hundred day moving average price of $100.85.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. AAON had a net margin of 12.60% and a return on equity of 20.23%. The business had revenue of $322.05 million for the quarter, compared to analysts’ expectations of $289.16 million. During the same period in the prior year, the firm earned $0.46 earnings per share. AAON’s revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

AAON declared that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. AAON’s dividend payout ratio is presently 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.