AAON (NASDAQ:AAON) Reaches New 12-Month High – Time to Buy?

Shares of AAON, Inc. (NASDAQ:AAON) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $113.68 and last traded at $113.64, with a volume of 11035 shares trading hands. The stock had previously closed at $112.45.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AAON. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird lifted their target price on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. DA Davidson reissued a “buy” rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Finally, Baird R W raised shares of AAON to a “hold” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.00.

AAON Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 52.30 and a beta of 0.80. The business’s fifty day simple moving average is $96.43 and its 200 day simple moving average is $87.86.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $313.57 million during the quarter, compared to analysts’ expectations of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, research analysts forecast that AAON, Inc. will post 2.28 EPS for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio is currently 14.88%.

Insider Activity

In related news, CEO Gary D. Fields sold 20,641 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gary D. Fields sold 20,641 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now directly owns 5,135 shares in the company, valued at $448,850.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of AAON by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after purchasing an additional 61,544 shares during the period. Janney Montgomery Scott LLC raised its position in shares of AAON by 99.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after purchasing an additional 8,613 shares during the period. Janus Henderson Group PLC raised its position in shares of AAON by 79.8% in the first quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock valued at $5,186,000 after purchasing an additional 26,141 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of AAON by 71.1% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 527,875 shares of the construction company’s stock valued at $46,505,000 after purchasing an additional 219,435 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of AAON by 18.9% in the first quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock valued at $52,226,000 after purchasing an additional 94,026 shares during the period. Institutional investors own 70.81% of the company’s stock.

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.