AAON (NASDAQ:AAON) Sets New 12-Month High on Earnings Beat

Key Points

• Earnings and stock move: AAON reported Q EPS of $0.48 vs. $0.31 expected and revenue of $496.94M vs. $381.08M (revenue +54.3% YoY), and the stock jumped to a new 52-week high of $142.01 from a prior close of $98.30.
• Dividend: AAON paid a quarterly dividend of $0.10 (annualized $0.40) for a ~0.3% yield and a payout ratio of about 30.8%.
• Insiders and analyst sentiment: Insiders sold 37,118 shares (~$3.67M) in the last 90 days, while analysts are mostly positive (five Buys, two Holds) with a consensus target of $107.75 and some price targets at $118–$120.

AAON, Inc. (NASDAQ:AAON - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $142.01 and last traded at $141.76, with a volume of 117723 shares changing hands. The stock had previously closed at $98.30.

The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. The business had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. AAON had a return on equity of 13.13% and a net margin of 7.46%.During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company's revenue was up 54.3% on a year-over-year basis.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, March 18th. AAON's payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAON. Oppenheimer reaffirmed an "outperform" rating and set a $118.00 target price (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. William Blair reissued an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Finally, DA Davidson reiterated a "buy" rating and set a $120.00 price objective on shares of AAON in a report on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus target price of $107.75.

Insider Transactions at AAON

In other AAON news, CAO Rebecca Thompson sold 21,914 shares of AAON stock in a transaction on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the completion of the transaction, the chief accounting officer directly owned 27,681 shares of the company's stock, valued at approximately $2,773,913.01. This trade represents a 44.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Casey Kidwell sold 5,225 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the sale, the insider owned 12,662 shares in the company, valued at $1,139,580. This represents a 29.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,118 shares of company stock valued at $3,665,241. Corporate insiders own 18.09% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of Michigan Retirement System grew its holdings in shares of AAON by 1.9% during the first quarter. State of Michigan Retirement System now owns 16,300 shares of the construction company's stock worth $1,349,000 after purchasing an additional 300 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of AAON by 5.0% in the first quarter. Principal Financial Group Inc. now owns 152,249 shares of the construction company's stock valued at $12,599,000 after buying an additional 7,254 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of AAON in the first quarter valued at about $233,000. Teachers Retirement System of The State of Kentucky lifted its position in AAON by 0.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 46,843 shares of the construction company's stock worth $3,877,000 after buying an additional 201 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in AAON by 4,498.8% during the 1st quarter. Fifth Third Bancorp now owns 211,316 shares of the construction company's stock worth $17,486,000 after acquiring an additional 206,721 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

AAON Price Performance

The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 110.44, a PEG ratio of 2.92 and a beta of 1.24. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $89.67 and a 200 day moving average price of $90.60.

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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