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

AAON, Inc. (NASDAQ:AAON)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $110.00 and last traded at $108.86, with a volume of 42893 shares traded. The stock had previously closed at $107.83.

Wall Street Analyst Weigh In

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

AAON Stock Performance

The stock has a 50 day simple moving average of $94.60 and a 200 day simple moving average of $87.19. 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 stock has a market cap of $8.92 billion, a P/E ratio of 50.15 and a beta of 0.80.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The firm had revenue of $313.57 million for the quarter, compared to analyst estimates of $283.77 million. During the same quarter last year, the company earned $0.55 EPS. The company’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that AAON, Inc. will post 2.29 earnings per share for the current year.

AAON Dividend Announcement

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

Insider Activity

In other news, VP Stephen E. Wakefield sold 29,946 shares of AAON stock in a transaction on Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the transaction, the vice president now owns 15,670 shares in the company, valued at approximately $1,412,337.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gary D. Fields sold 20,641 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the sale, the chief executive officer now owns 64,295 shares in the company, valued at $5,542,871.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen E. Wakefield sold 29,946 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the sale, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,609 shares of company stock worth $5,441,927. Insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alpha Cubed Investments LLC grew its position in AAON by 9.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 4,020 shares of the construction company’s stock worth $434,000 after acquiring an additional 345 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AAON by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,046 shares of the construction company’s stock worth $113,000 after buying an additional 301 shares during the period. Handelsbanken Fonder AB acquired a new position in AAON during the 3rd quarter worth about $2,052,000. Allied Investment Advisors LLC lifted its holdings in AAON by 23.3% during the 3rd quarter. Allied Investment Advisors LLC now owns 148,198 shares of the construction company’s stock worth $15,982,000 after buying an additional 28,006 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in AAON during the 2nd quarter worth about $250,000. Institutional investors own 70.81% of the company’s stock.

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.