Research Analysts Issue Forecasts for AAON FY2024 Earnings

AAON, Inc. (NASDAQ:AAON) – DA Davidson lowered their FY2024 earnings estimates for shares of AAON in a note issued to investors on Monday, November 11th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $2.23 for the year, down from their previous estimate of $2.24. DA Davidson has a “Buy” rating and a $150.00 price objective on the stock. The consensus estimate for AAON’s current full-year earnings is $2.26 per share.

AAON has been the subject of several other reports. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Robert W. Baird boosted their price target on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Stock Performance

AAON opened at $133.18 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The business’s 50-day simple moving average is $108.85 and its 200 day simple moving average is $92.56. The firm has a market capitalization of $10.82 billion, a PE ratio of 58.67 and a beta of 0.79. AAON has a 52-week low of $61.09 and a 52-week high of $144.07.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. AAON’s dividend payout ratio (DPR) is currently 14.10%.

Insider Activity at AAON

In other news, VP Casey Kidwell sold 4,796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the transaction, the vice president now directly owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This trade represents a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AAON

A number of large investors have recently added to or reduced their stakes in AAON. ORG Partners LLC bought a new position in AAON in the 2nd quarter valued at about $29,000. Blue Trust Inc. raised its position in AAON by 202.0% during the third quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Crewe Advisors LLC acquired a new position in AAON during the second quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new stake in AAON during the third quarter worth $37,000. Finally, Signaturefd LLC boosted its holdings in shares of AAON by 63.5% in the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock valued at $53,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds 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.