AAON (NASDAQ:AAON) Announces Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Key Points

• AAON beat quarterly expectations: Earnings were $0.83 per share, $0.26 above consensus, while revenue of $707.43 million exceeded estimates of $601.19 million.
• Shares rose 9.9% to $62.87 during Monday trading following the results.
• Analysts gave AAON a consensus “Moderate Buy” rating with an average price target of $120; the company also paid a quarterly dividend of $0.10 per share.

AAON (NASDAQ:AAON - Get Free Report) posted its quarterly earnings data on Monday. The construction company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.26, FiscalAI reports. AAON had a net margin of 8.24% and a return on equity of 17.32%. The firm had revenue of $707.43 million for the quarter, compared to analyst estimates of $601.19 million.

AAON Stock Up 9.9%

NASDAQ AAON traded up $5.68 during trading on Monday, reaching $62.87. The company's stock had a trading volume of 1,807,807 shares, compared to its average volume of 1,087,712. The stock has a market capitalization of $5.18 billion, a PE ratio of 32.74, a PEG ratio of 1.06 and a beta of 1.45. AAON has a 1-year low of $53.13 and a 1-year high of $150.46. The business has a 50-day moving average price of $76.99 and a 200-day moving average price of $96.98. The company has a current ratio of 3.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.43.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. AAON's dividend payout ratio (DPR) is 20.83%.

Insider Buying and Selling

In related news, Director David Stewart acquired 1,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the acquisition, the director owned 4,000 shares in the company, valued at $298,640. This trade represents a 33.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Shaub acquired 457 shares of the stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the transaction, the executive vice president owned 3,136 shares of the company's stock, valued at $239,653.12. This trade represents a 17.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 18.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AAON has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a report on Monday, October 12th. Robert W. Baird cut their price target on shares of AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. KeyCorp reaffirmed a "sector weight" rating on shares of AAON in a report on Thursday, August 13th. DA Davidson initiated coverage on shares of AAON in a research report on Tuesday, September 15th. They issued a "buy" rating and a $110.00 price target on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $115.00 price target (down from $125.00) on shares of AAON in a report on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

AAON Company Profile

AAON, Inc designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands.

Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services.

AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.

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