AAON (NASDAQ:AAON) Releases Earnings Results, Beats Estimates By $0.18 EPS

Key Points

• AAON beat quarterly expectations, reporting earnings of $0.69 per share versus the $0.51 consensus estimate. Revenue reached $626.98 million, well above analysts’ forecast of $508.82 million.
• The company declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 0.4% yield, with a payout ratio of 27.97%.
• Analyst sentiment remains moderately positive, with an average target price of $112 and a “Moderate Buy” consensus. However, insiders sold roughly $15 million in shares over the past 90 days.

AAON (NASDAQ:AAON - Get Free Report) released its earnings results on Monday. The construction company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.18, FiscalAI reports. The company had revenue of $626.98 million for the quarter, compared to analysts' expectations of $508.82 million. AAON had a net margin of 7.30% and a return on equity of 13.67%.

AAON Stock Performance

Shares of AAON opened at $94.83 on Monday. The company's fifty day moving average is $116.39 and its 200 day moving average is $105.93. AAON has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. The stock has a market capitalization of $7.77 billion, a PE ratio of 66.31, a P/E/G ratio of 2.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON's payout ratio is currently 27.97%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAON. KeyCorp began coverage on AAON in a research note on Thursday, July 23rd. They issued a "sector weight" rating for the company. Oppenheimer restated an "outperform" rating on shares of AAON in a research report on Friday, May 8th. Zacks Research lowered AAON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $112.00.

Insider Buying and Selling at AAON

In other news, CEO Matthew Joseph Tobolski sold 8,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the sale, the chief executive officer directly owned 114,371 shares in the company, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the sale, the director owned 34,252 shares in the company, valued at $4,592,165.64. This represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 108,908 shares of company stock valued at $15,000,124 over the last ninety days. Corporate insiders own 18.09% of the company's stock.

Institutional Investors Weigh In On AAON

Several large investors have recently added to or reduced their stakes in AAON. Shelton Capital Management bought a new stake in AAON in the third quarter worth about $224,000. iSAM Funds UK Ltd bought a new position in shares of AAON during the third quarter valued at approximately $198,000. Schroder Investment Management Group bought a new position in shares of AAON during the third quarter valued at approximately $219,000. Tower Research Capital LLC TRC raised its holdings in shares of AAON by 33.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,969 shares of the construction company's stock worth $145,000 after buying an additional 492 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of AAON by 14.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,649 shares of the construction company's stock worth $121,000 after buying an additional 211 shares during the period. 70.81% of the stock is owned by institutional investors.

AAON Company Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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