AAON, Inc. (NASDAQ:AAON) Receives Consensus Recommendation of “Strong Sell” from Analysts

AAON, Inc. (NASDAQ:AAON) has received an average broker rating score of 5.00 (Strong Sell) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation. AAON’s rating score has declined by 66.7% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a twelve-month consensus price target of $35.00 for the company and are expecting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AAON an industry rank of 187 out of 256 based on the ratings given to related companies.

AAON has been the topic of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lumentum in a research report on Monday, May 6th. BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Monday. Finally, TheStreet cut Trade Desk from a “b-” rating to a “c-” rating in a research report on Thursday, May 9th.

In related news, VP Stephen E. Wakefield sold 1,118 shares of AAON stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $47.83, for a total transaction of $53,473.94. Following the sale, the vice president now owns 6,878 shares of the company’s stock, valued at approximately $328,974.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott M. Asbjornson sold 3,824 shares of AAON stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $48.83, for a total value of $186,725.92. Following the sale, the chief financial officer now directly owns 856,247 shares in the company, valued at approximately $41,810,541.01. The disclosure for this sale can be found here. Insiders have sold a total of 6,042 shares of company stock worth $292,967 in the last three months. 22.24% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AAON. Norges Bank bought a new stake in AAON during the 4th quarter valued at approximately $8,399,000. Capital Advisors Inc. OK increased its stake in AAON by 6.9% in the 1st quarter. Capital Advisors Inc. OK now owns 3,276,774 shares of the construction company’s stock worth $151,119,000 after acquiring an additional 212,813 shares during the last quarter. Ellis Investment Partners LLC bought a new stake in AAON in the 1st quarter worth approximately $65,000. BlackRock Inc. increased its stake in AAON by 1.0% in the 4th quarter. BlackRock Inc. now owns 5,871,621 shares of the construction company’s stock worth $205,858,000 after acquiring an additional 60,268 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in AAON by 31.8% in the 4th quarter. Bank of America Corp DE now owns 210,793 shares of the construction company’s stock worth $7,390,000 after acquiring an additional 50,891 shares during the last quarter. 73.38% of the stock is currently owned by institutional investors.

NASDAQ:AAON traded up $0.90 on Friday, hitting $50.75. The stock had a trading volume of 2,090 shares, compared to its average volume of 114,575. The stock has a market cap of $2.66 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 2.66 and a beta of 0.99. The business has a 50-day moving average price of $48.29. AAON has a 52-week low of $31.55 and a 52-week high of $52.50.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). AAON had a net margin of 10.97% and a return on equity of 19.79%. The company had revenue of $113.82 million for the quarter, compared to analysts’ expectations of $109.92 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that AAON will post 1.28 earnings per share for the current fiscal year.

The firm also recently announced a semiannual dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. AAON’s dividend payout ratio (DPR) is presently 39.51%.

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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