DA Davidson upgraded shares of AAON (NASDAQ:AAON – Free Report) to a strong-buy rating in a report published on Thursday,Zacks reports.
Other research analysts have also issued reports about the stock. Oppenheimer decreased their price target on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Robert W. Baird cut their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, KeyCorp reiterated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.67.
View Our Latest Stock Report on AAON
AAON Price Performance
AAON (NASDAQ:AAON – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business had revenue of $626.98 million during the quarter, compared to analyst estimates of $508.82 million. During the same quarter last year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 101.2% on a year-over-year basis. Research analysts expect that AAON will post 2.3 EPS for the current fiscal year.
AAON Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON’s dividend payout ratio (DPR) is presently 20.83%.
Insider Activity
In other news, EVP Matthew Shaub purchased 457 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the purchase, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. This trade represents a 17.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.09% of the stock is currently owned by corporate insiders.
Institutional Trading of AAON
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in shares of AAON by 0.6% in the second quarter. Tidal Investments LLC now owns 153,244 shares of the construction company’s stock worth $19,441,000 after buying an additional 864 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of AAON during the second quarter valued at approximately $1,003,000. NewEdge Advisors LLC increased its position in shares of AAON by 7.7% during the second quarter. NewEdge Advisors LLC now owns 17,604 shares of the construction company’s stock valued at $2,233,000 after acquiring an additional 1,253 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of AAON by 868.6% during the second quarter. Squarepoint Ops LLC now owns 107,045 shares of the construction company’s stock valued at $13,580,000 after acquiring an additional 95,994 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in AAON in the 2nd quarter worth approximately $2,663,000. 70.81% of the stock is currently owned by institutional investors.
About AAON
AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.
Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.
Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.
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