AAON (NASDAQ:AAON) Upgraded by Sidoti to “Buy” Rating

AAON (NASDAQ:AAON) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $95.00 price objective on the construction company’s stock. Sidoti’s price objective points to a potential upside of 30.15% from the stock’s previous close.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Saturday. CJS Securities upgraded shares of 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. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Robert W. Baird dropped their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.50.

AAON Price Performance

AAON stock opened at $72.99 on Monday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON has a 12 month low of $68.98 and a 12 month high of $144.07. The firm has a market capitalization of $5.94 billion, a P/E ratio of 32.15 and a beta of 1.03. The firm has a 50 day moving average of $91.64 and a 200-day moving average of $102.53.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $322.05 million for the quarter, compared to analysts’ expectations of $289.16 million. During the same period last year, the firm posted $0.46 EPS. AAON’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts predict that AAON will post 2.26 earnings per share for the current fiscal year.

AAON declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gordon Douglas Wichman sold 3,975 shares of the firm’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 completion of the sale, the director now owns 8,754 shares in the company, valued at approximately $925,735.50. This trade represents a 31.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 8,357 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the transaction, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,823 shares of company stock worth $7,122,451. Corporate insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On AAON

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after buying an additional 244 shares in the last quarter. Parallel Advisors LLC raised its position in shares of AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock valued at $56,000 after purchasing an additional 149 shares during the last quarter. CHICAGO TRUST Co NA acquired a new stake in shares of AAON during the first quarter worth $333,000. American Century Companies Inc. increased its position in shares of AAON by 19.3% in the 4th quarter. American Century Companies Inc. now owns 68,760 shares of the construction company’s stock valued at $8,092,000 after acquiring an additional 11,140 shares during the period. Finally, Empowered Funds LLC purchased a new position in AAON in the 4th quarter worth $42,000. Institutional investors own 70.81% of the company’s stock.

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.