AAON, Inc. (NASDAQ:AAON) Short Interest Up 27.9% in August

Key Points

• AAON, Inc. experienced a significant 27.9% increase in short interest in August, with a total of 4,950,000 shares shorted as of August 15th.
• The company reported earnings of $0.22 per share for the last quarter, falling short of the consensus estimate of $0.31, and revenue was assessed at $311.57 million.
• AAON announced a quarterly dividend of $0.10 per share, with payments scheduled for September 26th to investors of record on September 5th.

AAON, Inc. (NASDAQ:AAON - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 4,950,000 shares, anincreaseof27.9% from the July 31st total of 3,870,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAON. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Monday, June 16th. Robert W. Baird lowered their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Finally, DA Davidson lowered their price target on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, AAON has an average rating of "Buy" and an average target price of $102.00.

AAON Trading Down 0.3%

Shares of AAON stock opened at $80.88 on Tuesday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 55.02 and a beta of 1.00. The stock has a 50-day moving average of $80.04 and a 200-day moving average of $83.85. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. AAON has a 1-year low of $62.00 and a 1-year high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). The business had revenue of $311.57 million for the quarter, compared to the consensus estimate of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. On average, equities research analysts forecast that AAON will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's dividend payout ratio (DPR) is currently 27.21%.

Insider Buying and Selling

In other news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares in the company, valued at approximately $451,009.08. The trade was a 69.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rebecca Thompson sold 9,350 shares of AAON stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the transaction, the chief financial officer owned 24,396 shares of the company's stock, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On AAON

Several large investors have recently added to or reduced their stakes in AAON. PFG Advisors lifted its stake in AAON by 114.8% during the first quarter. PFG Advisors now owns 20,836 shares of the construction company's stock worth $1,628,000 after purchasing an additional 11,136 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of AAON in the 4th quarter valued at about $210,000. Parallel Advisors LLC lifted its stake in shares of AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after acquiring an additional 149 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of AAON in the 1st quarter valued at about $789,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of AAON by 49.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock valued at $250,000 after acquiring an additional 1,054 shares during the last quarter. Institutional investors own 70.81% 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.

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