AAON (NASDAQ:AAON) Shares Up 6.9% - Here's What Happened

Key Points

• AAON's share price increased by 6.9% during trading, reaching a last traded price of $82.94, despite a decline in trading volume compared to the average.
• Analysts' ratings for AAON are mixed, with one analyst issuing a sell rating while others have assigned a buy rating, contributing to a consensus target price of $111.50.
• The company announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.48%, amidst a 22.9% year-over-year revenue increase reported in its last earnings.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s share price shot up 6.9% during trading on Friday . The stock traded as high as $82.70 and last traded at $82.94. 910,368 shares were traded during trading, a decline of 3% from the average session volume of 934,100 shares. The stock had previously closed at $77.56.

Analysts Set New Price Targets

Several research firms have recently commented on AAON. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.50.

AAON Trading Up 7.5%

The firm has a market cap of $6.79 billion, a PE ratio of 43.89 and a beta of 0.95. The business has a 50-day moving average price of $83.01 and a two-hundred day moving average price of $92.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Friday, June 6th. AAON's dividend payout ratio is presently 21.05%.

Insider Activity

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director directly owned 8,754 shares of the company's stock, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 8,357 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer owned 26,491 shares of the company's stock, valued at $2,613,602.06. The trade was a 23.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,823 shares of company stock valued at $7,122,451 in the last 90 days. 18.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AAON

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smith Moore & CO. raised its position in shares of AAON by 3.1% during the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company's stock valued at $388,000 after acquiring an additional 100 shares in the last quarter. Curi RMB Capital LLC increased its position in AAON by 0.5% in the fourth quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company's stock worth $2,177,000 after buying an additional 100 shares during the period. Quarry LP increased its position in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the period. Parallel Advisors LLC increased its position in AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after buying an additional 149 shares during the period. Finally, Cresset Asset Management LLC increased its position in AAON by 1.3% in the first quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock worth $949,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Company Profile

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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