AAON (NASDAQ:AAON) Sets New 12-Month High on Earnings Beat

AAON, Inc. (NASDAQ:AAON)’s share price hit a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $131.13 and last traded at $130.84, with a volume of 19148 shares traded. The stock had previously closed at $119.10.

The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. AAON had a return on equity of 26.02% and a net margin of 15.60%. AAON’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.08 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.23%. AAON’s payout ratio is 14.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Sidoti cut AAON from a “buy” rating to a “neutral” rating and increased their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. DA Davidson raised their target price on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Robert W. Baird increased their price target on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Institutional Investors Weigh In On AAON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of AAON by 208.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 730 shares of the construction company’s stock valued at $79,000 after purchasing an additional 493 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of AAON in the third quarter valued at about $1,285,000. Pathstone Holdings LLC boosted its stake in shares of AAON by 72.4% in the third quarter. Pathstone Holdings LLC now owns 16,356 shares of the construction company’s stock worth $1,764,000 after acquiring an additional 6,869 shares during the period. RiverPark Advisors LLC grew its position in shares of AAON by 221.1% during the third quarter. RiverPark Advisors LLC now owns 2,845 shares of the construction company’s stock worth $307,000 after purchasing an additional 1,959 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in AAON by 12.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,225,600 shares of the construction company’s stock valued at $132,169,000 after purchasing an additional 136,530 shares during the period. Institutional investors own 70.81% of the company’s stock.

AAON Trading Up 16.1 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. The company has a market capitalization of $11.20 billion, a PE ratio of 62.27 and a beta of 0.79. The stock has a fifty day moving average of $106.07 and a 200 day moving average of $91.54.

About AAON

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.