Brokerages Set AAON, Inc. (NASDAQ:AAON) Target Price at $104.60

Shares of AAON, Inc. (NASDAQ:AAON) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $104.60.

Several equities analysts recently weighed in on AAON shares. Oppenheimer reissued an “outperform” rating and issued a $115.00 target price on shares of AAON in a research note on Friday, November 7th. William Blair reissued an “outperform” rating on shares of AAON in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th.

AAON Price Performance

NASDAQ:AAON opened at $79.19 on Wednesday. AAON has a 52-week low of $62.00 and a 52-week high of $137.90. The company has a market cap of $6.46 billion, a P/E ratio of 65.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.03 and a current ratio of 3.04. The stock’s 50-day simple moving average is $88.31 and its 200 day simple moving average is $85.85.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. The firm had revenue of $322.05 million during the quarter. AAON had a return on equity of 12.52% and a net margin of 7.62%. As a group, sell-side analysts forecast that AAON will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Wednesday, November 26th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 26th. AAON’s dividend payout ratio (DPR) is presently 33.06%.

Insider Activity at AAON

In other AAON news, Director Gary D. Fields sold 26,746 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $105.21, for a total transaction of $2,813,946.66. Following the completion of the sale, the director owned 26,340 shares of the company’s stock, valued at $2,771,231.40. This trade represents a 50.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen E. Wakefield acquired 4,141 shares of AAON stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $77.59 per share, with a total value of $321,300.19. Following the completion of the transaction, the executive vice president owned 15,212 shares of the company’s stock, valued at approximately $1,180,299.08. This trade represents a 37.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in AAON during the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of AAON during the third quarter worth approximately $26,000. Jones Financial Companies Lllp boosted its holdings in shares of AAON by 59.5% during the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock worth $34,000 after acquiring an additional 141 shares during the period. Finally, Danske Bank A S acquired a new position in shares of AAON in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

About AAON

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.