AAON (NASDAQ:AAON) Trading 4.2% Higher – Should You Buy?

AAON, Inc. (NASDAQ:AAON)’s stock price rose 4.2% on Wednesday . The stock traded as high as $78.85 and last traded at $79.4270. Approximately 87,882 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,048,555 shares. The stock had previously closed at $76.19.

Wall Street Analyst Weigh In

AAON has been the topic of a number of research reports. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Robert W. Baird decreased their price target on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. KeyCorp reiterated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Finally, Oppenheimer dropped their price objective on shares of AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

AAON Stock Down 2.0%

The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 1.51 and a beta of 1.45. The stock has a 50 day simple moving average of $101.99 and a 200 day simple moving average of $104.87. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The company had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. During the same period in the prior year, the firm earned $0.22 earnings per share. AAON’s revenue for the quarter was up 101.2% on a year-over-year basis. As a group, analysts expect that AAON, Inc. will post 2.3 earnings per share for the current fiscal year.

AAON Dividend Announcement

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

Insiders Place Their Bets

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total value of $606,666.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after acquiring an additional 164 shares during the last quarter. Summit Securities Group LLC acquired a new position in AAON during the 4th quarter valued at about $45,000. Danske Bank A S acquired a new position in AAON during the 3rd quarter valued at about $47,000. Huntington National Bank increased its holdings in AAON by 21.1% during the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.