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

AAON, Inc. (NASDAQ:AAON) has been given a consensus recommendation of “Buy” by the five ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $115.50.

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

AAON Price Performance

AAON stock opened at $106.87 on Wednesday. AAON has a one year low of $68.98 and a one year high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The business has a fifty day moving average of $86.05 and a two-hundred day moving average of $107.73. The company has a market cap of $8.70 billion, a P/E ratio of 47.08 and a beta of 1.06.

AAON (NASDAQ:AAON) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. During the same quarter last year, the company earned $0.46 earnings per share. AAON’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, analysts predict that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. AAON’s dividend payout ratio (DPR) is presently 21.05%.

AAON declared that its board has initiated a stock repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $242,580. This represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer now owns 26,491 shares of the company’s stock, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAON. Barclays PLC increased its position in AAON by 182.2% during the 3rd quarter. Barclays PLC now owns 84,472 shares of the construction company’s stock worth $9,111,000 after purchasing an additional 54,535 shares in the last quarter. JPMorgan Chase & Co. increased its position in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares in the last quarter. Oak Thistle LLC purchased a new stake in AAON during the 4th quarter worth about $284,000. Caldwell Investment Management Ltd. purchased a new stake in AAON during the 4th quarter worth about $1,099,000. Finally, UMB Bank n.a. increased its position in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.