AAON (NASDAQ:AAON) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Shares of AAON, Inc. (NASDAQ:AAON) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $76.82 and traded as high as $81.61. AAON shares last traded at $78.80, with a volume of 1,287,053 shares.

Wall Street Analysts Forecast Growth

AAON has been the subject of a number of recent research reports. DA Davidson started coverage on shares of AAON in a report on Tuesday, September 15th. They issued 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 report on Monday, October 12th. KeyCorp reiterated a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target (down from $115.00) on shares of AAON in a research note on Tuesday. Finally, Robert W. Baird cut their price target on shares of AAON from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

AAON Trading Up 3.2%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.01 and a current ratio of 2.82. The stock’s 50-day simple moving average is $76.82 and its 200-day simple moving average is $96.54. The firm has a market capitalization of $6.50 billion, a PE ratio of 33.11, a P/E/G ratio of 1.33 and a beta of 1.45.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Monday, November 9th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. AAON had a net margin of 8.75% and a return on equity of 20.23%. The company had revenue of $707.43 million during the quarter, compared to the consensus estimate of $601.19 million. During the same period in the prior year, the firm earned $0.37 earnings per share. AAON’s revenue was up 84.1% on a year-over-year basis. As a group, sell-side analysts expect that AAON, Inc. will post 2.49 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Wednesday, November 25th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 25th. AAON’s dividend payout ratio (DPR) is presently 16.81%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its position in shares of AAON by 363.1% during the third quarter. SBI Securities Co. Ltd. now owns 477 shares of the construction company’s stock valued at $39,000 after buying an additional 374 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its stake in AAON by 422.3% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 491 shares of the construction company’s stock valued at $42,000 after acquiring an additional 397 shares during the period. EverSource Wealth Advisors LLC lifted its stake in AAON by 48.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock valued at $45,000 after acquiring an additional 178 shares during the period. NI Acquisitions Company LLC bought a new position in AAON during the 2nd quarter valued at about $102,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of AAON during the 3rd quarter valued at about $103,000. 70.81% of the stock is owned by institutional investors.

About AAON

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.