AAON (NASDAQ:AAON) Stock Price Up 10.1% - Time to Buy?

Key Points

• AAON, Inc. shares rose 10.1% on Tuesday, reaching a high of $79.35 after closing at $72.07, though the trading volume was down 49% from the average.
• Analysts have mixed ratings for AAON; Robert W. Baird lowered its price target to $98.00 while others increased their ratings, resulting in an average rating of "Buy" and a target price of $107.00.
• AAON reported a net margin of 12.60% with earnings per share (EPS) of $0.22, missing estimates by $0.09, signaling potential issues in meeting growth expectations.

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) traded up 10.1% during mid-day trading on Tuesday . The company traded as high as $78.04 and last traded at $79.35. 506,711 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 993,365 shares. The stock had previously closed at $72.07.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. DA Davidson decreased their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday. Robert W. Baird decreased their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, AAON has a consensus rating of "Buy" and a consensus price target of $102.00.

AAON Stock Down 4.3%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 3.10. The company's 50-day moving average price is $77.55 and its 200 day moving average price is $87.58. The stock has a market capitalization of $6.49 billion, a P/E ratio of 54.12 and a beta of 0.94.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $326.15 million. During the same period in the previous year, the business earned $0.62 earnings per share. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

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

Insider Buying and Selling

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were 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 in the company, valued at $914,617.92. This represents a 70.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AAON

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in AAON by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company's stock worth $509,111,000 after acquiring an additional 276,722 shares in the last quarter. Blair William & Co. IL grew its holdings in 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 acquiring an additional 102,382 shares during the period. Geneva Capital Management LLC raised its stake in shares of AAON by 7.3% during the 2nd quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company's stock worth $150,210,000 after buying an additional 139,024 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of AAON by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock valued at $109,598,000 after buying an additional 66,536 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in AAON by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,341,376 shares of the construction company's stock valued at $98,941,000 after acquiring an additional 26,302 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.