AAON (NASDAQ:AAON) Stock Price Up 5.7% - Here's Why

Key Points

• AAON shares rose 5.7% to about $80.69, though trading volume was 77% below the average session volume.
• The company reported quarterly EPS of $0.83, beating the $0.57 consensus, while revenue of $707.4 million topped estimates and increased 84.1% year over year.
• Analysts’ consensus rating is Moderate Buy with a $106.33 price target; some firms recently lowered their individual targets. AAON also declared a quarterly dividend of $0.10 per share.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s stock price traded up 5.7% during trading on Thursday. The company traded as high as $80.51 and last traded at $80.6880. Approximately 251,352 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,103,868 shares. The stock had previously closed at $76.33.

Analysts Set New Price Targets

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

AAON Price Performance

The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $76.73 and a 200 day simple moving average of $96.62. The stock has a market capitalization of $6.44 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Monday, November 9th. The construction company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The company had revenue of $707.43 million for the quarter, compared to analyst estimates of $601.19 million. AAON had a return on equity of 20.23% and a net margin of 8.75%. The company's revenue for the quarter was up 84.1% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. On average, analysts expect that AAON, Inc. will post 2.35 earnings per share for the current year.

AAON Announces Dividend

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

Insider Buying and Selling at AAON

In other news, EVP Matthew Shaub acquired 457 shares of the business's stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $76.42 per share, with a total value of $34,923.94. Following the acquisition, the executive vice president directly owned 3,136 shares of the company's stock, valued at $239,653.12. The trade was a 17.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Stewart bought 1,000 shares of AAON stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $74.66 per share, with a total value of $74,660.00. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $298,640. This represents a 33.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 18.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AAON

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its stake in AAON by 363.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 477 shares of the construction company's stock valued at $39,000 after buying an additional 374 shares during the last quarter. Eurizon Capital SGR S.p.A. boosted its stake in shares of AAON by 422.3% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 491 shares of the construction company's stock worth $42,000 after buying an additional 397 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of AAON by 48.0% in the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company's stock valued at $45,000 after acquiring an additional 178 shares in the last quarter. NI Acquisitions Company LLC bought a new position in shares of AAON in the second quarter valued at approximately $102,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of AAON in the third quarter valued at approximately $103,000. 70.81% of the stock is owned by institutional investors.

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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