AAON (NASDAQ:AAON) Upgraded at Zacks Research

Zacks Research upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks reports.

Several other equities analysts have also weighed in on AAON. DA Davidson assumed coverage on AAON in a research note on Tuesday, September 15th. They issued a “buy” rating and a $110.00 target price on the stock. KeyCorp restated a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Robert W. Baird cut their price target on shares of AAON from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 10th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target (down from $115.00) on shares of AAON in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

AAON Trading Up 1.8%

Shares of AAON stock traded up $1.45 during trading hours on Thursday, reaching $80.25. The company had a trading volume of 1,460,830 shares, compared to its average volume of 1,567,883. The company has a 50 day moving average of $76.86 and a 200 day moving average of $96.48. 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 firm has a market cap of $6.62 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 1.29 and a beta of 1.45. AAON has a 1-year low of $53.13 and a 1-year high of $150.46.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Monday, November 9th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.26. AAON had a return on equity of 20.23% and a net margin of 8.75%. The business had revenue of $707.43 million for the quarter, compared to analyst estimates of $601.19 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue was up 84.1% on a year-over-year basis. On average, equities research analysts anticipate that AAON will post 2.66 EPS for the current year.

AAON Announces Dividend

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

Insider Activity

In other AAON news, Director David Stewart purchased 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew Shaub purchased 457 shares of the stock in a transaction on Friday, August 28th. The stock was acquired at an average price of $76.42 per share, with a total value of $34,923.94. Following the completion of the acquisition, the executive vice president directly owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This represents a 17.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 18.09% of the company’s stock.

Hedge Funds Weigh In On AAON

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in AAON by 31.9% in the 3rd quarter. First Trust Advisors LP now owns 2,082,991 shares of the construction company’s stock valued at $172,388,000 after buying an additional 503,819 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in AAON during the 2nd quarter worth approximately $55,284,000. American Capital Management Inc. acquired a new position in AAON during the 2nd quarter worth approximately $47,595,000. Marshall Wace LLP grew its stake in shares of AAON by 13,668.3% during the 3rd quarter. Marshall Wace LLP now owns 368,714 shares of the construction company’s stock worth $30,515,000 after acquiring an additional 366,036 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of AAON by 38.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,220,470 shares of the construction company’s stock worth $101,006,000 after acquiring an additional 336,730 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Top AAON Stories

Investors following AAON have been watching these stories:

• Positive Sentiment: AAON reported record third-quarter revenue of $707.4 million, up 84.1% year over year, and EPS of $0.83, above the $0.57 consensus estimate. Management raised its full-year sales-growth outlook to 72%–75%, citing strong demand that includes data-center cooling systems. Why AAON Stock Surged 37.8% This Week
• Positive Sentiment: Zacks upgraded AAON to Rank #1 (Strong Buy), citing improving earnings prospects and estimate revisions—an encouraging near-term signal, though ratings do not guarantee performance. What Makes AAON a New Strong Buy Stock
• Negative Sentiment: A report said Baird lowered its expectations for AAON’s stock price, providing a cautionary counterpoint to the stronger earnings outlook. Baird Lowers Expectations for AAON

About AAON

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.