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

Shares of AAON, Inc. (NASDAQ:AAON) have earned an average rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $111.50.

Several research firms have commented on AAON. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. DA Davidson cut 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. Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Monday. Robert W. Baird cut 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. Finally, Wall Street Zen downgraded AAON from a “hold” rating to a “sell” rating in a research note on Saturday.

Insider Buying and Selling at AAON

In other news, CEO Gary D. Fields sold 37,189 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the sale, the chief executive officer now owns 63,714 shares in the company, valued at $6,256,714.80. This trade represents a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon Douglas Wichman sold 3,975 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $105.75, for a total value of $420,356.25. Following the sale, the director now owns 8,754 shares in the company, valued at $925,735.50. This trade represents a 31.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,823 shares of company stock worth $7,122,451. 18.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in AAON by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company’s stock valued at $509,111,000 after purchasing an additional 276,722 shares during the period. Blair William & Co. IL raised its position in AAON by 86.2% in the first quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company’s stock valued at $170,143,000 after purchasing an additional 1,007,906 shares during the period. Invesco Ltd. raised its position in AAON by 15.6% in the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock valued at $239,184,000 after purchasing an additional 274,119 shares during the period. Geneva Capital Management LLC raised its position in AAON by 13.1% in the first quarter. Geneva Capital Management LLC now owns 1,897,728 shares of the construction company’s stock valued at $148,269,000 after purchasing an additional 219,814 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in AAON by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company’s stock valued at $109,598,000 after purchasing an additional 66,536 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Up 1.0%

AAON opened at $73.71 on Friday. The business has a 50 day moving average price of $91.66 and a two-hundred day moving average price of $102.10. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.00 billion, a PE ratio of 32.47 and a beta of 1.03. AAON has a 52 week low of $68.98 and a 52 week high of $144.07.

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

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, June 6th. AAON’s payout ratio is currently 21.05%.

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

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.