AAON (NASDAQ:AAON) Releases Quarterly Earnings Results

AAON (NASDAQ:AAON) released its quarterly earnings results on Monday. The construction company reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $707.43 million during the quarter, compared to analysts’ expectations of $601.19 million.

AAON Price Performance

Shares of NASDAQ:AAON traded up $5.68 on Monday, hitting $62.87. The company’s stock had a trading volume of 1,807,807 shares, compared to its average volume of 1,087,712. The company has a 50-day simple moving average of $76.99 and a 200 day simple moving average of $96.98. AAON has a 1 year low of $53.13 and a 1 year high of $150.46. The company has a market capitalization of $5.18 billion, a PE ratio of 32.74, a PEG ratio of 1.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.

AAON Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other AAON news, EVP Matthew Shaub purchased 457 shares of the business’s stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the transaction, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. This represents a 17.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Stewart acquired 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately $298,640. The trade was a 33.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 18.09% of the stock is owned by corporate insiders.

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.