AAON (NASDAQ:AAON) Stock Price Up 4.2% – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s share price traded up 4.2% during mid-day trading on Wednesday . The stock traded as high as $82.43 and last traded at $82.6090. 330,352 shares changed hands during trading, a decline of 69% from the average session volume of 1,052,696 shares. The stock had previously closed at $79.27.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAON. Robert W. Baird reduced their target price on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Oppenheimer reduced their price objective on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. DA Davidson restated a “buy” rating and set a $110.00 target price on shares of AAON in a report on Tuesday, September 15th. KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Finally, Zacks Research downgraded AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and an average price target of $123.33.

AAON Stock Up 4.2%

The stock has a market cap of $6.81 billion, a P/E ratio of 42.90, a P/E/G ratio of 1.45 and a beta of 1.41. The company has a current ratio of 3.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $86.61 and its 200 day moving average is $101.88.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.18. The company had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%.The firm’s revenue was up 101.2% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. As a group, equities research analysts forecast that AAON, Inc. will post 2.29 EPS for the current year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON’s dividend payout ratio (DPR) is presently 20.83%.

Insider Buying and Selling at AAON

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

Institutional Trading of AAON

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in AAON by 0.6% during the second quarter. Tidal Investments LLC now owns 153,244 shares of the construction company’s stock worth $19,441,000 after purchasing an additional 864 shares during the period. Engineers Gate Manager LP bought a new stake in shares of AAON in the 2nd quarter valued at approximately $1,003,000. NewEdge Advisors LLC raised its holdings in shares of AAON by 7.7% in the 2nd quarter. NewEdge Advisors LLC now owns 17,604 shares of the construction company’s stock worth $2,233,000 after buying an additional 1,253 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of AAON by 868.6% in the 2nd quarter. Squarepoint Ops LLC now owns 107,045 shares of the construction company’s stock worth $13,580,000 after buying an additional 95,994 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of AAON during the 2nd quarter worth approximately $2,663,000. Institutional investors own 70.81% of the company’s stock.

About AAON

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.