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

AAON, Inc. (NASDAQ:AAON) has been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Four equities research 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 research firms have recently issued reports on AAON. Robert W. Baird lowered 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. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wall Street Zen lowered AAON from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Monday. Finally, CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th.

AAON Stock Performance

Shares of AAON stock opened at $71.78 on Friday. AAON has a 12 month low of $68.98 and a 12 month high of $144.07. The stock has a market cap of $5.84 billion, a PE ratio of 37.78 and a beta of 1.03. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average price is $91.26 and its 200-day moving average price is $101.68.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. AAON’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities analysts expect that AAON will post 2.26 EPS for the current fiscal year.

AAON declared that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, June 6th. AAON’s dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In other AAON news, CEO Gary D. Fields sold 37,189 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 63,714 shares in the company, valued at $6,256,714.80. The trade was a 36.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were 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 of the company’s stock, valued at approximately $925,735.50. This represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is owned by insiders.

Institutional Investors Weigh In On AAON

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

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.