William Blair Research Analysts Boost Earnings Estimates for AAON, Inc. (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – William Blair upped their Q2 2024 earnings per share (EPS) estimates for shares of AAON in a research note issued on Tuesday, June 25th. William Blair analyst R. Merkel now anticipates that the construction company will earn $0.54 per share for the quarter, up from their prior estimate of $0.53. William Blair has a “Outperform” rating on the stock. The consensus estimate for AAON’s current full-year earnings is $2.22 per share. William Blair also issued estimates for AAON’s Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.26 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $2.95 EPS.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. DA Davidson reiterated a “buy” rating and set a $102.00 price target on shares of AAON in a research note on Wednesday.

AAON Price Performance

Shares of NASDAQ:AAON opened at $84.90 on Thursday. The company has a market capitalization of $6.98 billion, a PE ratio of 39.55 and a beta of 0.80. The business has a fifty day moving average price of $79.58 and a two-hundred day moving average price of $78.98. AAON has a 1 year low of $52.24 and a 1 year high of $96.34.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $262.10 million during the quarter, compared to analysts’ expectations of $284.76 million. AAON had a net margin of 15.44% and a return on equity of 25.84%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share.

Institutional Investors Weigh In On AAON

A number of large investors have recently made changes to their positions in the business. Strs Ohio grew its position in shares of AAON by 2.3% in the 4th quarter. Strs Ohio now owns 6,600 shares of the construction company’s stock worth $487,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of AAON by 35.6% during the first quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock valued at $61,000 after purchasing an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of AAON by 3.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock valued at $514,000 after purchasing an additional 257 shares in the last quarter. TFO Wealth Partners LLC bought a new stake in shares of AAON during the fourth quarter valued at approximately $27,000. Finally, Quadrant Capital Group LLC boosted its position in shares of AAON by 11.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,920 shares of the construction company’s stock valued at $290,000 after purchasing an additional 403 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gary D. Fields sold 28,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the transaction, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $4,894,778.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Rebecca Thompson sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $1,331,869. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 28,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total value of $2,146,866.00. Following the transaction, the chief executive officer now owns 64,295 shares in the company, valued at $4,894,778.35. The disclosure for this sale can be found here. 18.55% of the stock is owned by corporate insiders.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, June 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. AAON’s dividend payout ratio is 14.91%.

AAON Company Profile

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.