AAON (NASDAQ:AAON) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a strong-buy rating in a research report released on Monday morning, Zacks.com reports.

A number of other research analysts also recently weighed in on AAON. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and lifted their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Robert W. Baird raised shares of AAON from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $114.00 to $130.00 in a research report on Monday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and an average price target of $114.33.

AAON Stock Performance

Shares of AAON opened at $115.11 on Monday. The company has a 50-day moving average of $102.12 and a two-hundred day moving average of $89.82. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 55.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. AAON has a one year low of $54.19 and a one year high of $122.97.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm had revenue of $313.57 million during the quarter, compared to analyst estimates of $283.77 million. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts expect that AAON will post 2.28 earnings per share for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio (DPR) is presently 14.88%.

Insider Activity

In related news, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total value of $1,779,460.61. Following the transaction, the chief executive officer now owns 64,295 shares in the company, valued at approximately $5,542,871.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now owns 5,135 shares in the company, valued at $448,850.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in AAON by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after purchasing an additional 61,544 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of AAON by 99.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock worth $1,520,000 after buying an additional 8,613 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of AAON by 79.8% during the 1st quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock worth $5,186,000 after buying an additional 26,141 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of AAON by 18.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock worth $52,226,000 after buying an additional 94,026 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in AAON by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 562,933 shares of the construction company’s stock valued at $49,595,000 after buying an additional 6,766 shares during the last quarter. Institutional investors and hedge funds 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.