Analysts Set AAON, Inc. (NASDAQ:AAON) Target Price at $115.50

Shares of AAON, Inc. (NASDAQ:AAON) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $115.50.

AAON has been the subject of a number of research reports. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. DA Davidson cut their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th.

Insider Buying and Selling

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 18.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AAON. Blue Trust Inc. boosted its stake in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares in the last quarter. Captrust Financial Advisors boosted its position in AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after buying an additional 89 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of AAON by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after buying an additional 100 shares during the last quarter. HUB Investment Partners LLC increased its holdings in shares of AAON by 5.2% during the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after buying an additional 100 shares in the last quarter. Finally, Smith Moore & CO. increased its holdings in shares of AAON by 3.1% during the fourth quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock worth $388,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Price Performance

Shares of NASDAQ AAON opened at $78.13 on Tuesday. The firm has a market cap of $6.38 billion, a P/E ratio of 34.42 and a beta of 1.00. The business’s 50 day moving average is $98.71 and its 200-day moving average is $112.74. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON has a 1-year low of $69.52 and a 1-year high of $144.07.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. This is a positive change from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.