AAON (NASDAQ:AAON) Sets New 1-Year High – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $113.68 and last traded at $113.64, with a volume of 11035 shares trading hands. The stock had previously closed at $112.45.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Baird R W upgraded AAON to a “hold” rating in a report on Wednesday, July 24th. Robert W. Baird upped their target price on shares of AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, DA Davidson reissued a “buy” rating and issued a $102.00 price objective on shares of AAON in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $102.00.

AAON Stock Performance

The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 51.62 and a beta of 0.80. The stock has a 50-day simple moving average of $96.97 and a 200-day simple moving average of $88.03.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $313.57 million for the quarter, compared to analysts’ expectations of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts anticipate that AAON, Inc. will post 2.28 earnings per share for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. AAON’s dividend payout ratio (DPR) is 14.88%.

Insider Buying and Selling at AAON

In other news, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the transaction, the director now owns 5,135 shares in the company, valued at approximately $448,850.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AAON

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in AAON by 35.6% during the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock valued at $61,000 after purchasing an additional 181 shares during the period. Park Avenue Securities LLC lifted its stake in AAON by 27.7% in the first quarter. Park Avenue Securities LLC now owns 3,857 shares of the construction company’s stock valued at $340,000 after buying an additional 837 shares during the last quarter. Guidance Capital Inc. boosted its holdings in shares of AAON by 25.5% during the first quarter. Guidance Capital Inc. now owns 5,966 shares of the construction company’s stock valued at $520,000 after acquiring an additional 1,213 shares during the period. Chatham Capital Group Inc. grew its position in shares of AAON by 11.1% during the first quarter. Chatham Capital Group Inc. now owns 66,545 shares of the construction company’s stock worth $5,863,000 after acquiring an additional 6,640 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of AAON by 71.1% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 527,875 shares of the construction company’s stock worth $46,505,000 after acquiring an additional 219,435 shares during the period. 70.81% of the stock is owned by institutional investors.

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.