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

Shares of AAON, Inc. (NASDAQ:AAON) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $115.50.

A number of research analysts have recently weighed in on AAON shares. Robert W. Baird dropped their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. Finally, DA Davidson cut their price objective on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th.

Insider Buying and Selling

In related news, Director David Raymond Stewart purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.55% of the stock is currently owned by company insiders.

Institutional Trading of AAON

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. grew its position in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP purchased a new stake in shares of AAON during the 4th quarter worth about $33,000. Westside Investment Management Inc. acquired a new stake in AAON during the 3rd quarter worth approximately $36,000. Quarry LP raised its holdings in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after buying an additional 103 shares during the period. Finally, UMB Bank n.a. lifted its position in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after buying an additional 131 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

NASDAQ AAON opened at $83.58 on Tuesday. The business has a 50 day moving average price of $103.67 and a 200 day moving average price of $113.08. The company has a market capitalization of $6.82 billion, a P/E ratio of 36.82 and a beta of 1.00. AAON has a 1-year low of $69.52 and a 1-year high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON announced that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

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.