AAON, Inc. (NASDAQ:AAON) Given Consensus Recommendation of “Buy” by Brokerages

AAON, Inc. (NASDAQ:AAON) has earned a consensus rating of “Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $133.00.

AAON has been the subject of several analyst reports. Sidoti cut AAON from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Robert W. Baird upped their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, DA Davidson boosted their target price on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Insider Activity

In other AAON news, VP Casey Kidwell sold 1,421 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $135.14, for a total transaction of $192,033.94. Following the completion of the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $669,348.42. This represents a 22.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the sale, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,967 shares of company stock valued at $6,961,357. Insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAON. Vaughan Nelson Investment Management L.P. raised its stake in AAON by 106.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock valued at $95,010,000 after acquiring an additional 561,195 shares during the last quarter. Wasatch Advisors LP increased its position in AAON by 39.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the period. Blair William & Co. IL acquired a new position in AAON during the 2nd quarter worth approximately $44,934,000. Millennium Management LLC increased its position in AAON by 212.3% during the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after purchasing an additional 446,344 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in AAON by 552.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after purchasing an additional 296,423 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Up 0.1 %

AAON opened at $129.17 on Wednesday. AAON has a 12 month low of $64.53 and a 12 month high of $144.07. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 56.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The business has a fifty day moving average price of $122.37 and a 200 day moving average price of $99.94.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Sell-side analysts expect that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, November 29th. AAON’s payout ratio is currently 14.10%.

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.