AAON (NASDAQ:AAON) Approves Share Repurchase Program

AAON (NASDAQ:AAON) announced that its board has approved a stock repurchase plan on Tuesday, March 4th, RTT News reports. The company plans to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

AAON has been the subject of a number of recent analyst reports. DA Davidson decreased their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Friday, February 28th. Robert W. Baird cut their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Stock Performance

AAON opened at $75.25 on Wednesday. The company’s 50 day moving average is $115.69 and its 200 day moving average is $114.26. 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 company has a market cap of $6.12 billion, a price-to-earnings ratio of 33.15 and a beta of 0.87. AAON has a 12-month low of $69.52 and a 12-month high of $144.07.

Insider Transactions at AAON

In related news, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $138.00, for a total value of $690,000.00. Following the transaction, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen E. Wakefield sold 5,362 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $130.99, for a total value of $702,368.38. Following the sale, the vice president now directly owns 4,558 shares of the company’s stock, valued at $597,052.42. This represents a 54.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% 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.