AAON (NASDAQ:AAON) Stock Jumps 5.7% – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target (down from $115.00) on shares of AAON in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Monday, October 12th. KeyCorp restated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Robert W. Baird lowered 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. Finally, DA Davidson started coverage on shares of AAON in a research note on Tuesday, September 15th. They issued a “buy” rating and a $110.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

AAON Price Performance

The firm’s 50 day moving average price is $76.73 and its two-hundred day moving average price is $96.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 2.01. The stock has a market cap of $6.44 billion, a PE ratio of 32.95, a P/E/G ratio of 1.39 and a beta of 1.45.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Monday, November 9th. The construction company reported $0.83 EPS 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 analysts’ expectations of $601.19 million. AAON had a net margin of 8.75% and a return on equity of 20.23%. AAON’s revenue was up 84.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, research analysts expect that AAON, Inc. will post 2.35 earnings per share for the current year.

AAON Dividend Announcement

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

Insider Buying and Selling at AAON

In related news, EVP Matthew Shaub acquired 457 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the purchase, 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 this link. Also, Director David Stewart acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $74.66 per share, for a total transaction of $74,660.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $298,640. This represents a 33.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. AlphaGrep UK Ltd grew its holdings in AAON by 29.0% during the 3rd quarter. AlphaGrep UK Ltd now owns 5,415 shares of the construction company’s stock valued at $448,000 after buying an additional 1,217 shares in the last quarter. First Trust Advisors LP grew its stake in AAON by 31.9% during the third quarter. First Trust Advisors LP now owns 2,082,991 shares of the construction company’s stock valued at $172,388,000 after acquiring an additional 503,819 shares in the last quarter. Voya Investment Management LLC increased its holdings in AAON by 144.5% during the 3rd quarter. Voya Investment Management LLC now owns 291,371 shares of the construction company’s stock worth $24,114,000 after acquiring an additional 172,203 shares during the period. Public Sector Pension Investment Board bought a new stake in AAON during the 3rd quarter worth approximately $1,630,000. Finally, Impax Asset Management Group plc increased its holdings in AAON by 41.6% during the 3rd quarter. Impax Asset Management Group plc now owns 485,998 shares of the construction company’s stock worth $40,221,000 after acquiring an additional 142,833 shares during the period. 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.