Key Points
- Director David Raymond Stewart bought 1,000 AAON shares at an average price of $74.66, investing $74,660 and increasing his ownership by 33.33% to 4,000 shares.
- AAON reported strong quarterly results, with revenue up 101.2% year over year to $626.98 million and EPS of $0.69, exceeding analyst expectations of $0.51.
- Analysts maintain a consensus “Moderate Buy” rating with a $123.33 price target, while AAON also declared a quarterly dividend of $0.10 per share, yielding approximately 0.5%.
AAON, Inc. (NASDAQ:AAON - Get Free Report) Director David Stewart purchased 1,000 shares of AAON stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director owned 4,000 shares in the company, valued at approximately $298,640. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
AAON Stock Performance
NASDAQ AAON opened at $75.56 on Thursday. The company has a market cap of $6.23 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. The stock's 50 day simple moving average is $89.42 and its 200-day simple moving average is $102.51. AAON, Inc. has a 1-year low of $73.19 and a 1-year high of $150.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.
AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The firm had revenue of $626.98 million during the quarter, compared to analysts' expectations of $508.82 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm's revenue for the quarter was up 101.2% on a year-over-year basis. As a group, equities research analysts anticipate that AAON, Inc. will post 2.21 EPS for the current fiscal year.
AAON Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON's dividend payout ratio is presently 20.83%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of AAON by 48.0% in the 1st 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 during the period. Huntington National Bank lifted its stake in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock worth $53,000 after purchasing an additional 120 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in AAON by 20.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock valued at $80,000 after purchasing an additional 181 shares in the last quarter. Summit Securities Group LLC increased its stake in AAON by 73.9% in the first quarter. Summit Securities Group LLC now owns 1,024 shares of the construction company's stock valued at $85,000 after purchasing an additional 435 shares during the last quarter. Finally, NI Acquisitions Company LLC purchased a new position in AAON in the second quarter valued at approximately $102,000. Hedge funds and other institutional investors own 70.81% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a report on Tuesday, July 14th. Oppenheimer dropped their price objective on shares of AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Zacks Research cut shares of AAON from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Robert W. Baird reduced their target price on shares of AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Finally, DA Davidson reiterated a "buy" rating and issued a $110.00 target price on shares of AAON in a report on Tuesday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.33.
Read Our Latest Research Report on AAON
About AAON
(
Get Free Report)
AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.
Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.
Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.
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