AAON, Inc. (NASDAQ:AAON) Receives $115.50 Average Price Target from Analysts

Shares of AAON, Inc. (NASDAQ:AAON) have earned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $115.50.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective 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. DA Davidson dropped their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Finally, StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

Insider Transactions at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.55% of the company’s stock.

Hedge Funds Weigh In On AAON

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of AAON in the fourth quarter valued at approximately $8,310,000. Wealth Enhancement Advisory Services LLC bought a new stake in AAON in the 4th quarter valued at $210,000. Park Square Financial Group LLC acquired a new stake in AAON during the 4th quarter valued at $57,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in AAON during the fourth quarter worth $8,920,000. Finally, Forum Financial Management LP bought a new position in AAON during the fourth quarter worth $202,000. Institutional investors own 70.81% of the company’s stock.

AAON Stock Down 1.5 %

NASDAQ:AAON opened at $80.24 on Tuesday. 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 has a 50-day moving average price of $100.79 and a two-hundred day moving average price of $112.60. AAON has a 1 year low of $69.52 and a 1 year high of $144.07. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 35.35 and a beta of 1.00.

AAON declared that its board has authorized a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.50%. AAON’s dividend payout ratio is 19.90%.

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.