Analysts Set AAON, Inc. (NASDAQ:AAON) Price Target at $115.50

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

Several equities research analysts recently issued reports on the company. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Monday. Robert W. Baird cut their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Wall Street Zen downgraded AAON from a “hold” rating to a “sell” rating in a report on Saturday. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Friday, February 28th. Finally, DA Davidson lowered 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 Price Performance

NASDAQ:AAON opened at $73.71 on Friday. AAON has a 52 week low of $68.98 and a 52 week high of $144.07. 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 capitalization of $6.00 billion, a P/E ratio of 32.47 and a beta of 1.03. The stock’s fifty day moving average is $91.66 and its two-hundred day moving average is $102.10.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million for 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 company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts expect that AAON will post 2.26 EPS for the current year.

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

AAON Announces Dividend

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

Insider Buying and Selling

In other news, Director Gordon Douglas Wichman sold 3,975 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $105.75, for a total value of $420,356.25. Following the transaction, the director now owns 8,754 shares in the company, valued at approximately $925,735.50. This represents a 31.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the transaction, the chief executive officer now owns 63,714 shares in the company, valued at approximately $6,256,714.80. The trade was a 36.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock valued at $7,122,451 in the last three months. 18.70% of the stock is owned by corporate insiders.

Institutional Trading of AAON

A number of large investors have recently made changes to their positions in AAON. Blair William & Co. IL boosted its position in shares of AAON by 86.2% in the 1st 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. Norges Bank acquired a new stake in shares of AAON in the 4th quarter valued at about $76,581,000. Raymond James Financial Inc. acquired a new stake in shares of AAON in the 4th quarter valued at about $73,313,000. Mawer Investment Management Ltd. acquired a new stake in shares of AAON in the 1st quarter valued at about $44,219,000. Finally, Brown Advisory Inc. acquired a new stake in shares of AAON in the 1st quarter valued at about $41,180,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.