Zacks: Analysts Set $35.00 Target Price for AAON, Inc. (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) has been assigned a consensus broker rating score of 5.00 (Strong Sell) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation.

Brokerages have set a 12 month consensus price objective of $35.00 for the company and are forecasting that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AAON an industry rank of 213 out of 255 based on the ratings given to related companies.

Several research analysts recently commented on AAON shares. BidaskClub upgraded AAON from a “hold” rating to a “buy” rating in a research report on Saturday, October 19th. ValuEngine upgraded AAON from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered AAON from a “hold” rating to a “sell” rating in a research report on Monday, November 4th.

Shares of NASDAQ AAON traded up $0.60 during midday trading on Tuesday, hitting $50.13. 119,500 shares of the stock traded hands, compared to its average volume of 136,486. The firm has a market capitalization of $2.59 billion, a P/E ratio of 61.89 and a beta of 0.95. The firm has a 50-day moving average of $47.32 and a two-hundred day moving average of $48.07. AAON has a one year low of $32.33 and a one year high of $53.27.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $126.84 million. AAON had a net margin of 10.94% and a return on equity of 19.11%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. On average, equities analysts anticipate that AAON will post 0.99 earnings per share for the current year.

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 26th. AAON’s dividend payout ratio is currently 39.51%.

In related news, CFO Scott M. Asbjornson sold 21,000 shares of AAON stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $49.90, for a total value of $1,047,900.00. Following the completion of the transaction, the chief financial officer now owns 869,267 shares in the company, valued at $43,376,423.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rony D. Gadiwalla sold 4,000 shares of AAON stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $50.38, for a total value of $201,520.00. Following the completion of the transaction, the vice president now owns 31,934 shares of the company’s stock, valued at approximately $1,608,834.92. The disclosure for this sale can be found here. Company insiders own 22.24% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squar Milner Financial Services LLC lifted its stake in AAON by 931.3% in the third quarter. Squar Milner Financial Services LLC now owns 825 shares of the construction company’s stock worth $37,000 after purchasing an additional 745 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in AAON in the third quarter worth about $52,000. Nisa Investment Advisors LLC lifted its stake in AAON by 10.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the construction company’s stock worth $152,000 after purchasing an additional 300 shares during the last quarter. HBK Sorce Advisory LLC bought a new stake in AAON in the second quarter worth about $201,000. Finally, Stone Ridge Asset Management LLC bought a new stake in AAON in the second quarter worth about $232,000. 72.66% of the stock is owned by institutional investors and hedge funds.

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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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