William Blair Equities Analysts Raise Earnings Estimates for AAON, Inc. (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Equities researchers at William Blair increased their Q2 2024 earnings per share estimates for shares of AAON in a note issued to investors on Tuesday, June 25th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.53. William Blair has a “Outperform” rating on the stock. The consensus estimate for AAON’s current full-year earnings is $2.24 per share. William Blair also issued estimates for AAON’s Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.26 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $2.95 EPS.

AAON has been the topic of several other reports. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a report on Monday, June 17th. DA Davidson reissued a “buy” rating and issued a $102.00 price target on shares of AAON in a research note on Wednesday.

AAON Price Performance

NASDAQ:AAON opened at $87.24 on Thursday. The company has a 50 day moving average price of $79.64 and a 200-day moving average price of $79.17. AAON has a 1-year low of $52.24 and a 1-year high of $96.34. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 40.64 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The company had revenue of $262.10 million for the quarter, compared to analyst estimates of $284.76 million. During the same period in the prior year, the business posted $0.45 earnings per share. AAON’s revenue for the quarter was down 1.4% on a year-over-year basis.

Hedge Funds Weigh In On AAON

Hedge funds have recently bought and sold shares of the company. Strs Ohio boosted its position in AAON by 2.3% in the 4th quarter. Strs Ohio now owns 6,600 shares of the construction company’s stock valued at $487,000 after buying an additional 150 shares during the period. GAMMA Investing LLC grew its stake in AAON by 35.6% during the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock worth $61,000 after purchasing an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in AAON by 3.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock worth $514,000 after purchasing an additional 257 shares in the last quarter. TFO Wealth Partners LLC purchased a new stake in AAON during the 4th quarter worth about $27,000. Finally, Quadrant Capital Group LLC raised its position in AAON by 11.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,920 shares of the construction company’s stock valued at $290,000 after purchasing an additional 403 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity

In other AAON news, CFO Rebecca Thompson sold 13,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the completion of the sale, the chief financial officer now owns 17,297 shares of the company’s stock, valued at $1,331,869. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Gary D. Fields sold 28,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total value of $2,146,866.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rebecca Thompson sold 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the completion of the transaction, the chief financial officer now owns 17,297 shares in the company, valued at $1,331,869. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.08 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.32 annualized dividend and a yield of 0.37%. AAON’s payout ratio is 14.91%.

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.