AAON (NASDAQ:AAON) Trading 6.9% Higher - Time to Buy?

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) shares shot up 6.9% during mid-day trading on Wednesday . The company traded as high as $83.51 and last traded at $83.54. 84,750 shares traded hands during trading, a decline of 92% from the average session volume of 1,000,607 shares. The stock had previously closed at $78.16.

Analysts Set New Price Targets

AAON has been the subject of a number of research analyst reports. Robert W. Baird decreased their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Monday, June 16th. DA Davidson decreased their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $102.00.

AAON Price Performance

The firm has a market capitalization of $6.71 billion, a PE ratio of 56.12 and a beta of 1.00. The company has a fifty day moving average price of $80.10 and a two-hundred day moving average price of $83.81. 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 (NASDAQ:AAON - Get Free Report) last released its quarterly 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 firm had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

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

Insider Buying and Selling at AAON

In other AAON 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 value of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares in the company, valued at $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rebecca Thompson sold 9,350 shares of AAON 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 transaction, the chief financial officer owned 24,396 shares of the company's stock, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company's stock.

Hedge Funds Weigh In On AAON

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of AAON by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company's stock valued at $509,111,000 after acquiring an additional 276,722 shares in the last quarter. Blair William & Co. IL lifted its position in shares of AAON by 4.7% during the second quarter. Blair William & Co. IL now owns 2,280,070 shares of the construction company's stock worth $168,155,000 after purchasing an additional 102,382 shares in the last quarter. Geneva Capital Management LLC lifted its position in shares of AAON by 7.3% during the second quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company's stock worth $150,210,000 after purchasing an additional 139,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AAON by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock worth $109,598,000 after purchasing an additional 66,536 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of AAON by 2.0% during the second quarter. Geode Capital Management LLC now owns 1,341,376 shares of the construction company's stock worth $98,941,000 after purchasing an additional 26,302 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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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