DA Davidson Has Bearish Forecast for AAON FY2024 Earnings

AAON, Inc. (NASDAQ:AAON - Free Report) - DA Davidson dropped their FY2024 earnings per share 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 of $2.23 per share for the year, down from their prior estimate of $2.24. DA Davidson has a "Buy" rating and a $150.00 price target on the stock. The consensus estimate for AAON's current full-year earnings is $2.26 per share.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird upped their price target on AAON from $130.00 to $138.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. StockNews.com upgraded shares of AAON from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Sidoti cut shares of AAON from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Finally, Baird R W upgraded shares of AAON from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $133.00.

AAON Price Performance

Shares of AAON traded down $3.10 during midday trading on Wednesday, hitting $134.63. 426,261 shares of the company traded hands, compared to its average volume of 603,524. The stock has a 50-day moving average of $108.85 and a 200-day moving average of $92.56. AAON has a one year low of $59.71 and a one year high of $144.07. The firm has a market cap of $10.94 billion, a P/E ratio of 59.31 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

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

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. AAON's dividend payout ratio is currently 14.10%.

Insider Buying and Selling at AAON

In other AAON news, VP Casey Kidwell sold 4,796 shares of the 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 in the company, valued at $675,490.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.55% of the company's stock.

Institutional Trading of AAON

Several large investors have recently added to or reduced their stakes in AAON. Vaughan Nelson Investment Management L.P. boosted its holdings in AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company's stock valued at $95,010,000 after acquiring an additional 561,195 shares in the last quarter. Blair William & Co. IL bought a new stake in AAON in the second quarter valued at $44,934,000. Millennium Management LLC boosted its holdings in AAON by 212.3% in the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company's stock valued at $57,278,000 after acquiring an additional 446,344 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AAON by 552.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company's stock valued at $30,541,000 after acquiring an additional 296,423 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in AAON in the second quarter valued at $15,700,000. Institutional investors own 70.81% of the company's stock.

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.