AAON (NASDAQ:AAON) Trading 4.2% Higher – Still a Buy?

AAON, Inc. (NASDAQ:AAON) shares shot up 4.2% during mid-day trading on Wednesday . The company traded as high as $78.85 and last traded at $79.4270. 87,882 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,048,555 shares. The stock had previously closed at $76.19.

Wall Street Analysts Forecast Growth

AAON has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer dropped their target price on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Robert W. Baird cut 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, KeyCorp restated a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

AAON Trading Up 5.4%

The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The business’s fifty day simple moving average is $104.23 and its 200 day simple moving average is $105.09. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 41.75, a P/E/G ratio of 1.44 and a beta of 1.45.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The company had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. During the same period in the prior year, the company earned $0.22 earnings per share. The firm’s revenue was up 101.2% compared to the same quarter last year. On average, research analysts predict that AAON, Inc. will post 2.3 EPS for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. AAON’s dividend payout ratio is currently 20.83%.

Insider Buying and Selling

In other news, Director Gary D. Fields sold 19,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the sale, the director directly owned 15,252 shares in the company, valued at approximately $2,138,330.40. This represents a 55.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Thompson sold 4,230 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total value of $606,666.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.09% of the company’s stock.

Institutional Investors Weigh In On AAON

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its stake in AAON by 12,636.0% in the second quarter. California State Teachers Retirement System now owns 10,244,326 shares of the construction company’s stock valued at $1,299,595,000 after buying an additional 10,163,890 shares during the last quarter. Wellington Management Group LLP grew its position in shares of AAON by 512.5% during the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock worth $442,896,000 after acquiring an additional 3,966,088 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock worth $93,231,000 after acquiring an additional 1,209,205 shares during the period. Norges Bank acquired a new stake in shares of AAON in the 4th quarter worth about $41,584,000. Finally, Wasatch Advisors LP lifted its position in AAON by 27.1% in the 3rd quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock valued at $199,864,000 after purchasing an additional 456,560 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.