AAON (NASDAQ:AAON) Given “Buy” Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of AAON (NASDAQ:AAON) in a research report sent to investors on Wednesday morning, Benzinga reports. DA Davidson currently has a $102.00 target price on the construction company’s stock.

Several other research firms also recently issued reports on AAON. William Blair began coverage on shares of AAON in a research note on Monday, April 29th. They set an outperform rating for the company. StockNews.com lowered AAON from a hold rating to a sell rating in a research report on Monday, June 17th.

AAON Stock Up 0.2 %

NASDAQ AAON opened at $84.90 on Wednesday. AAON has a twelve month low of $52.24 and a twelve month high of $96.34. The business’s fifty day moving average is $79.58 and its 200 day moving average is $78.98. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 39.55 and a beta of 0.80.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm had revenue of $262.10 million for the quarter, compared to the consensus estimate of $284.76 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts anticipate that AAON will post 2.22 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, June 7th. AAON’s dividend payout ratio is currently 14.91%.

Insider Transactions at AAON

In other AAON news, CEO Gary D. Fields sold 28,200 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $4,894,778.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gary D. Fields sold 28,200 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total value of $2,146,866.00. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rebecca Thompson sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $77.00, for a total value of $1,039,500.00. Following the sale, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $1,331,869. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AAON. Vanguard Group Inc. raised its holdings in shares of AAON by 57.2% during the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock valued at $425,936,000 after purchasing an additional 2,725,779 shares during the period. Ameriprise Financial Inc. boosted its holdings in AAON by 111.8% in the third quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after acquiring an additional 847,953 shares in the last quarter. Norges Bank acquired a new stake in AAON in the fourth quarter valued at approximately $43,832,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of AAON during the fourth quarter valued at approximately $22,784,000. Finally, Norden Group LLC raised its position in shares of AAON by 2,604.7% during the first quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock worth $26,920,000 after purchasing an additional 294,253 shares during the period. 70.81% of the stock is owned by institutional investors.

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.