AAON, Inc. (NASDAQ:AAON) Receives Consensus Recommendation of "Buy" from Brokerages

AAON, Inc. (NASDAQ:AAON - Get Free Report) has received an average rating of "Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $115.50.

A number of equities research analysts recently weighed in on AAON shares. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. DA Davidson cut their price objective on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Robert W. Baird dropped their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com lowered AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th.

AAON Price Performance

NASDAQ AAON traded down $2.16 during trading on Tuesday, hitting $78.08. 537,967 shares of the company's stock were exchanged, compared to its average volume of 705,144. The company has a market cap of $6.37 billion, a PE ratio of 34.40 and a beta of 1.00. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average price is $99.75 and its two-hundred day moving average price is $112.53. AAON has a fifty-two week low of $69.52 and a fifty-two week high of $144.07.

Remove Ads

AAON announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is presently 19.90%.

Insiders Place Their Bets

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares of the company's stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.55% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AAON. Mather Group LLC. raised its stake in shares of AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Twin Tree Management LP purchased a new stake in AAON during the 4th quarter valued at $33,000. Westside Investment Management Inc. bought a new position in AAON during the 3rd quarter valued at about $36,000. Quarry LP grew its holdings in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after acquiring an additional 103 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

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.