AAON (NASDAQ:AAON) Board of Directors Declares Share Buyback Program

AAON (NASDAQ:AAON) announced that its board has authorized a share buyback plan on Tuesday, March 4th, RTT News reports. The company plans to buyback $30.00 million in shares. This buyback authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AAON Trading Up 2.4 %

AAON traded up $1.74 during mid-day trading on Tuesday, reaching $75.25. The stock had a trading volume of 1,948,426 shares, compared to its average volume of 630,388. The stock has a market capitalization of $6.12 billion, a P/E ratio of 33.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm’s fifty day simple moving average is $115.69 and its two-hundred day simple moving average is $114.26. AAON has a 52 week low of $69.47 and a 52 week high of $144.07.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AAON shares. Robert W. Baird dropped their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday. DA Davidson dropped their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Friday. Finally, StockNews.com cut AAON from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AAON currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling at AAON

In other news, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $138.00, for a total value of $690,000.00. Following the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at $2,386,986. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares in the company, valued at $597,052.42. This represents a 54.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.55% 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.