AAON (NASDAQ:AAON) Sets New 12-Month High on Earnings Beat

AAON, Inc. (NASDAQ:AAON) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $131.13 and last traded at $130.84, with a volume of 19148 shares. The stock had previously closed at $119.10.

The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.08 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. AAON’s dividend payout ratio is presently 14.41%.

Wall Street Analysts Forecast Growth

AAON has been the topic of several research analyst reports. Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird increased their target price on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.00.

Institutional Trading of AAON

Institutional investors have recently modified their holdings of the company. NBC Securities Inc. boosted its holdings in AAON by 4.5% in the third quarter. NBC Securities Inc. now owns 3,601 shares of the construction company’s stock worth $388,000 after acquiring an additional 156 shares in the last quarter. Ascent Wealth Partners LLC boosted its stake in AAON by 1.1% in the 2nd quarter. Ascent Wealth Partners LLC now owns 16,692 shares of the construction company’s stock worth $1,456,000 after purchasing an additional 178 shares in the last quarter. Blue Trust Inc. grew its position in AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. New York State Teachers Retirement System increased its stake in AAON by 1.0% during the 3rd quarter. New York State Teachers Retirement System now owns 19,312 shares of the construction company’s stock valued at $2,083,000 after purchasing an additional 200 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of AAON by 63.5% in the second quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after buying an additional 238 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Up 9.9 %

The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 53.65 and a beta of 0.79. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $105.21 and its 200 day moving average price is $91.18.

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.