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

AAON, Inc. (NASDAQ:AAON) has received an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $115.50.

A number of analysts have commented on AAON shares. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Friday, February 28th. Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, DA Davidson reduced their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th.

AAON Trading Down 5.5 %

Shares of AAON stock opened at $77.92 on Friday. The stock has a market cap of $6.36 billion, a P/E ratio of 34.33 and a beta of 0.96. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON has a 12-month low of $68.98 and a 12-month high of $144.07. The business’s 50 day moving average is $85.60 and its 200-day moving average is $109.78.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. raised its holdings in AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock valued at $25,000 after acquiring an additional 276 shares in the last quarter. Versant Capital Management Inc increased its position in shares of AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock worth $26,000 after purchasing an additional 287 shares during the period. Mather Group LLC. raised its stake in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP acquired a new position in AAON in the fourth quarter valued at about $33,000. Finally, Westside Investment Management Inc. bought a new stake in AAON during the third quarter worth about $36,000. 70.81% of the stock is currently owned by institutional investors.

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.