AAON (NASDAQ:AAON) Share Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• AAON shares moved above their 50-day moving average, trading as high as $81.61 and last quoted at $78.80, versus a 50-day average of $76.82; the 200-day average was $96.54.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $106.33. Recent target cuts included Baird’s move to $104 and Oppenheimer’s to $105.
• AAON beat quarterly estimates, reporting EPS of $0.83 versus $0.57 expected and revenue of $707.43 million versus $601.19 million expected; revenue rose 84.1% year over year.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $76.82 and traded as high as $81.61. AAON shares last traded at $78.80, with a volume of 1,287,053 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AAON shares. DA Davidson initiated coverage on AAON in a research note on Tuesday, September 15th. They set a "buy" rating and a $110.00 price objective on the stock. KeyCorp reaffirmed a "sector weight" rating on shares of AAON in a research note on Thursday, August 13th. Robert W. Baird reduced their price target on AAON from $110.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday. Oppenheimer reiterated an "outperform" rating and set a $105.00 price objective (down from $115.00) on shares of AAON in a research report on Tuesday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.33.

AAON Price Performance

The stock has a market cap of $6.50 billion, a PE ratio of 33.11, a P/E/G ratio of 1.33 and a beta of 1.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.01 and a current ratio of 2.82. The business has a 50 day moving average price of $76.82 and a two-hundred day moving average price of $96.54.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Monday, November 9th. The construction company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.26. The company had revenue of $707.43 million for the quarter, compared to analysts' expectations of $601.19 million. AAON had a return on equity of 20.23% and a net margin of 8.75%. The business's revenue for the quarter was up 84.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. Research analysts expect that AAON, Inc. will post 2.49 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Wednesday, November 25th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's payout ratio is presently 16.81%.

Insider Transactions at AAON

In related news, Director David Stewart acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $74.66 per share, with a total value of $74,660.00. Following the acquisition, the director owned 4,000 shares of the company's stock, valued at approximately $298,640. This trade represents a 33.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Matthew Shaub purchased 457 shares of the business's stock in a transaction on Friday, August 28th. The stock was purchased at an average cost of $76.42 per share, with a total value of $34,923.94. Following the completion of the acquisition, the executive vice president owned 3,136 shares in the company, valued at approximately $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 18.09% of the stock is owned by company insiders.

Institutional Trading of AAON

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its stake in AAON by 3.1% in the second quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company's stock valued at $296,664,000 after acquiring an additional 70,399 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of AAON in the 2nd quarter worth about $2,061,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of AAON in the 3rd quarter worth about $15,090,000. Empowered Funds LLC bought a new position in shares of AAON during the 1st quarter valued at about $1,312,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of AAON during the 2nd quarter valued at about $2,505,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.