AAON (NASDAQ:AAON) Posts Earnings Results, Beats Estimates By $0.04 EPS

by · The Cerbat Gem

AAON (NASDAQ:AAON – Get Free Report) released its quarterly earnings data on Thursday. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04, Zacks reports. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company had revenue of $384.24 million during the quarter, compared to the consensus estimate of $337.20 million. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year.

AAON Trading Up 5.5%

Shares of AAON traded up $5.50 during trading hours on Friday, hitting $105.53. 1,674,847 shares of the stock traded hands, compared to its average volume of 1,034,397. The business has a fifty day moving average of $93.58 and a 200-day moving average of $88.05. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $8.60 billion, a PE ratio of 71.79 and a beta of 1.05. AAON has a 1-year low of $62.00 and a 1-year high of $144.07.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. AAON’s payout ratio is presently 27.21%.

Wall Street Analyst Weigh In

AAON has been the subject of several recent research reports. DA Davidson dropped their price target on shares of AAON from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Zacks Research raised AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Robert W. Baird decreased their price target on AAON from $102.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen cut AAON from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.60.

Get Our Latest Stock Analysis on AAON

Insider Transactions at AAON

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the transaction, the chief financial officer directly owned 24,396 shares in the company, valued at approximately $1,978,271.64. This represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the sale, the insider owned 5,301 shares of the company’s stock, valued at approximately $451,009.08. This represents a 69.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of AAON by 68.1% during the second quarter. Sei Investments Co. now owns 360,204 shares of the construction company’s stock worth $26,565,000 after purchasing an additional 145,959 shares during the period. BNP Paribas Financial Markets boosted its holdings in AAON by 831.9% during the second quarter. BNP Paribas Financial Markets now owns 101,441 shares of the construction company’s stock worth $7,481,000 after buying an additional 90,556 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of AAON by 8.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,120,324 shares of the construction company’s stock worth $82,624,000 after buying an additional 87,426 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after acquiring an additional 73,644 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock valued at $6,340,000 after acquiring an additional 65,813 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Company Profile

(Get Free Report)

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.

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