AAON (NASDAQ:AAON) Announces Earnings Results

AAON (NASDAQ:AAON) announced its earnings results on Monday. The construction company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26, FiscalAI reports. AAON had a net margin of 8.24% and a return on equity of 17.32%. The business had revenue of $707.43 million during the quarter, compared to the consensus estimate of $601.19 million.

AAON Stock Performance

Shares of NASDAQ:AAON traded up $5.68 during midday trading on Monday, reaching $62.87. 1,809,358 shares of the company’s stock traded hands, compared to its average volume of 1,087,712. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01. AAON has a one year low of $53.13 and a one year high of $150.46. The stock has a 50 day moving average of $76.99 and a 200 day moving average of $96.98.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a $0.10 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. AAON’s payout ratio is currently 20.83%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AAON shares. Robert W. Baird dropped their price target on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Oppenheimer restated an “outperform” rating and issued a $115.00 price target (down from $125.00) on shares of AAON in a research note on Wednesday, October 14th. DA Davidson initiated coverage on AAON in a research report on Tuesday, September 15th. They set a “buy” rating and a $110.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Monday, October 12th. Finally, KeyCorp reiterated a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Buying and Selling at AAON

In other AAON news, Director David Stewart bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director owned 4,000 shares in the company, valued at $298,640. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Matthew Shaub bought 457 shares of the stock in a transaction on Friday, August 28th. The shares were bought at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the purchase, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. This trade represents 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.

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.