AAON, Inc. (NASDAQ:AAON) Receives $126.67 Average Price Target from Brokerages

Shares of AAON, Inc. (NASDAQ:AAON) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $126.6667.

Several equities analysts have commented on AAON shares. DA Davidson raised shares of AAON to a “strong-buy” rating in a research report on Thursday. Oppenheimer reduced their price target on AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Robert W. Baird decreased their price target on AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. KeyCorp reissued a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th.

AAON Stock Performance

AAON stock opened at $79.79 on Monday. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 1.57 and a beta of 1.41. AAON has a 12 month low of $73.19 and a 12 month high of $150.46. The firm has a 50 day moving average of $91.46 and a two-hundred day moving average of $103.02.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The business had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter last year, the firm earned $0.22 EPS. AAON’s revenue for the quarter was up 101.2% on a year-over-year basis. As a group, equities analysts anticipate that AAON will post 2.21 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. Shareholders of record on Friday, September 4th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON’s dividend payout ratio (DPR) is 20.83%.

Insider Activity at AAON

In other news, EVP Matthew Shaub purchased 457 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were bought at an average price of $76.42 per share, with a total value of $34,923.94. Following the completion of the transaction, the executive vice president directly owned 3,136 shares in the company, valued at $239,653.12. This trade represents a 17.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock valued at $6,340,000 after acquiring an additional 65,813 shares during the period. NewEdge Advisors LLC lifted its position in shares of AAON by 1.8% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of AAON by 20.6% during the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AAON by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after purchasing an additional 12,489 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after purchasing an additional 164 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.