AAON (NASDAQ:AAON) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday. William Blair reiterated an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. DA Davidson reiterated a “buy” rating and set a $120.00 price objective on shares of AAON in a research note on Tuesday, February 3rd. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.75.

AAON Price Performance

NASDAQ AAON opened at $133.66 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The firm’s 50 day moving average price is $92.55 and its 200-day moving average price is $91.63. AAON has a 52-week low of $62.00 and a 52-week high of $149.00. The company has a market cap of $10.95 billion, a PE ratio of 93.47, a P/E/G ratio of 3.97 and a beta of 1.24.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The firm had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company’s quarterly revenue was up 54.3% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Sell-side analysts forecast that AAON will post 2.23 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. AAON’s payout ratio is currently 27.97%.

Insiders Place Their Bets

In other AAON news, CAO Rebecca Thompson sold 21,914 shares of AAON stock in a transaction on Friday, April 24th. The shares were sold at an average price of $100.21, for a total value of $2,196,001.94. Following the completion of the transaction, the chief accounting officer owned 27,681 shares of the company’s stock, valued at approximately $2,773,913.01. The trade was a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Casey Kidwell sold 5,225 shares of AAON stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider directly owned 12,662 shares of the company’s stock, valued at $1,139,580. The trade was a 29.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,790 shares of company stock valued at $4,986,339 in the last ninety days. 18.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAON. Millennium Management LLC increased its stake in shares of AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after purchasing an additional 65,813 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of AAON by 1.8% during the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock worth $33,669,000 after purchasing an additional 73,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AAON by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock worth $18,204,000 after purchasing an additional 12,489 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of AAON by 96.5% during the second 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. Hedge funds and other institutional investors 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.