AAON (NASDAQ:AAON) Given Buy Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of AAON (NASDAQ:AAON) in a report issued on Tuesday morning, MarketBeat Ratings reports. DA Davidson currently has a $120.00 price objective on the construction company’s stock.

Other research analysts have also issued reports about the company. William Blair reissued an “outperform” rating on shares of AAON in a report on Tuesday, December 30th. Oppenheimer reissued an “outperform” rating and set a $115.00 target price on shares of AAON in a research note on Friday, November 7th. Wall Street Zen downgraded shares of AAON from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research note on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, AAON has an average rating of “Moderate Buy” and an average target price of $107.60.

AAON Stock Up 3.7%

Shares of AAON stock opened at $93.37 on Tuesday. The business has a 50-day moving average price of $84.78 and a 200 day moving average price of $88.26. AAON has a fifty-two week low of $62.00 and a fifty-two week high of $117.73. The firm has a market cap of $7.62 billion, a P/E ratio of 77.17 and a beta of 1.11. The company has a quick ratio of 2.03, a current ratio of 3.04 and a debt-to-equity ratio of 0.42.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 6th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. AAON had a net margin of 7.62% and a return on equity of 12.52%. The company had revenue of $384.24 million for the quarter, compared to the consensus estimate of $337.20 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts forecast that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Wednesday, November 26th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. AAON’s payout ratio is currently 33.06%.

Insider Buying and Selling at AAON

In other AAON news, Director Gary D. Fields sold 26,746 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $105.21, for a total value of $2,813,946.66. Following the sale, the director directly owned 26,340 shares in the company, valued at $2,771,231.40. This trade represents a 50.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stephen E. Wakefield purchased 4,141 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the completion of the purchase, the executive vice president directly owned 15,212 shares of the company’s stock, valued at approximately $1,180,299.08. This trade represents a 37.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AAON in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of AAON during the third quarter worth $26,000. Jones Financial Companies Lllp increased its position in shares of AAON by 59.5% during the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock worth $34,000 after acquiring an additional 141 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of AAON during the third quarter worth $47,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.