AAON (NASDAQ:AAON) Stock Jumps 4.2% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AAON shares. KeyCorp reissued a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Robert W. Baird reduced their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Oppenheimer cut their target price 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 reaffirmed a “buy” rating and issued a $110.00 price target on shares of AAON in a report on Tuesday, September 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, AAON currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

AAON Price Performance

The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 1.50 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 stock has a 50-day simple moving average of $85.41 and a 200 day simple moving average of $101.78.

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

AAON Announces Dividend

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

Insiders Place Their Bets

In related news, Director David Stewart purchased 1,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were acquired 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 approximately $298,640. The trade was a 33.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Shaub purchased 457 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the purchase, the executive vice president directly owned 3,136 shares of the company’s stock, valued at $239,653.12. The trade was a 17.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of AAON in the 1st quarter valued at $1,312,000. Wasatch Advisors LP lifted its position in shares of AAON by 3.1% in the second quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock worth $296,664,000 after buying an additional 70,399 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of AAON by 22.7% in the first quarter. California State Teachers Retirement System now owns 80,436 shares of the construction company’s stock worth $6,656,000 after buying an additional 14,878 shares during the last quarter. Kettle Hill Capital Management LLC bought a new stake in shares of AAON during the 4th quarter worth about $2,292,000. Finally, Next Century Growth Investors LLC increased its holdings in shares of AAON by 18.9% during the 4th quarter. Next Century Growth Investors LLC now owns 139,381 shares of the construction company’s stock valued at $10,628,000 after acquiring an additional 22,148 shares during the last quarter. Hedge funds and other 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.