AAON (NASDAQ:AAON) Trading 6.9% Higher - Here's Why

Key Points

• AAON's shares increased by 6.9% during mid-day trading, reaching a price of $83.54, despite a significant decline in trading volume.
• The company has been subject to several analyst reviews, with price targets ranging from $95.00 to $105.00, reflecting a mixture of "buy" and "sell" ratings.
• AAON declared a quarterly dividend of $0.10 per share, which equates to an annual dividend yield of 0.5%, set to be paid to shareholders on September 26th.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s stock price rose 6.9% during trading on Wednesday . The stock traded as high as $83.51 and last traded at $83.54. Approximately 84,750 shares were traded during trading, a decline of 92% from the average daily volume of 1,000,607 shares. The stock had previously closed at $78.16.

Wall Street Analyst Weigh In

AAON has been the topic of several analyst reports. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Monday, June 16th. DA Davidson dropped their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Robert W. Baird dropped their target price on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, AAON has a consensus rating of "Buy" and an average price target of $102.00.

AAON Stock Up 1.6%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The firm has a fifty day simple moving average of $80.58 and a 200-day simple moving average of $83.48. The company has a market capitalization of $6.81 billion, a PE ratio of 56.80 and a beta of 1.00.

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

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, September 5th. AAON's payout ratio is 27.21%.

Insider Buying and Selling

In other news, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares of the company's stock, valued at $1,978,271.64. This trade 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 currently owned by insiders.

Institutional Investors Weigh In On AAON

Institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in shares of AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after acquiring an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. Versant Capital Management Inc grew its stake in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in AAON during the 2nd quarter worth $26,000. Finally, UMB Bank n.a. grew its stake in AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after buying an additional 264 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

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.