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 report released on Monday morning, Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and increased their price objective 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 report on Friday, September 20th. Finally, Robert W. Baird raised shares of AAON from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $114.00 to $130.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AAON currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

AAON Trading Up 9.1 %

AAON opened at $121.33 on Monday. AAON has a fifty-two week low of $53.64 and a fifty-two week high of $122.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 56.43 and a beta of 0.80. The firm has a 50 day simple moving average of $100.92 and a 200 day simple moving average of $89.37.

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

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, September 6th. AAON’s dividend payout ratio (DPR) is presently 14.88%.

Insider Transactions at AAON

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

Institutional Investors Weigh In On AAON

A number of large investors have recently added to or reduced their stakes in AAON. Vanguard Group Inc. grew its position in AAON by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after acquiring an additional 61,544 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in AAON by 99.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after purchasing an additional 8,613 shares during the period. Janus Henderson Group PLC grew its stake 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 valued at $5,186,000 after acquiring an additional 26,141 shares during the period. Lord Abbett & CO. LLC raised its stake in AAON by 18.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock valued at $52,226,000 after purchasing an additional 94,026 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of AAON by 1.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 562,933 shares of the construction company’s stock worth $49,595,000 after buying an additional 6,766 shares in the last quarter. Hedge funds and other institutional investors own 70.81% 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.