AAON (NASDAQ:AAON) Sets New 12-Month High Following Better-Than-Expected Earnings

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $131.13 and last traded at $130.84, with a volume of 19148 shares. The stock had previously closed at $119.10.

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

AAON Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAON shares. Robert W. Baird upped their price objective on AAON from $130.00 to $138.00 and gave the stock an "outperform" rating in a research report on Friday. Baird R W raised AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, October 28th. Sidoti lowered shares of 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 research note on Tuesday, October 22nd. StockNews.com upgraded shares of AAON from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Finally, DA Davidson upped their target price on shares of AAON from $102.00 to $150.00 and gave the company a "buy" rating in a report on Friday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AAON. Janney Montgomery Scott LLC grew its position in shares of AAON by 99.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company's stock worth $1,520,000 after acquiring an additional 8,613 shares during the last quarter. GSA Capital Partners LLP purchased a new position in AAON during the 1st quarter worth $429,000. Texas Permanent School Fund Corp increased its stake in AAON by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 59,017 shares of the construction company's stock valued at $5,199,000 after purchasing an additional 765 shares during the period. Duality Advisers LP raised its holdings in shares of AAON by 8.9% in the first quarter. Duality Advisers LP now owns 18,571 shares of the construction company's stock valued at $1,636,000 after buying an additional 1,517 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of AAON during the first quarter worth about $212,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Stock Performance

The stock has a market cap of $11.20 billion, a PE ratio of 60.38 and a beta of 0.79. The stock has a fifty day moving average of $105.21 and a 200-day moving average of $91.18. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12.

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.