AAON, Inc. (NASDAQ:AAON) Sees Significant Decrease in Short Interest

AAON, Inc. (NASDAQ:AAON) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totalling 1,540,000 shares, a decline of 6.7% from the December 31st total of 1,650,000 shares. Based on an average daily volume of 434,700 shares, the short-interest ratio is presently 3.5 days.

AAON Stock Performance

NASDAQ:AAON opened at $116.38 on Monday. The firm’s 50-day moving average is $126.76 and its 200-day moving average is $111.52. AAON has a 52-week low of $70.14 and a 52-week high of $144.07. 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 company has a market cap of $9.46 billion, a price-to-earnings ratio of 51.27 and a beta of 0.87.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that AAON will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. AAON’s payout ratio is currently 14.10%.

Insider Buying and Selling

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of AAON stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the transaction, the vice president now directly owns 4,558 shares in the company, valued at approximately $597,052.42. The trade was a 54.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction 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 sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $675,490.14. This trade represents a 49.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,329 shares of company stock valued at $7,663,726 over the last quarter. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAON. AQR Capital Management LLC increased its stake in AAON by 66.0% in the second quarter. AQR Capital Management LLC now owns 19,597 shares of the construction company’s stock valued at $1,710,000 after acquiring an additional 7,789 shares during the period. The Manufacturers Life Insurance Company increased its stake in AAON by 55.0% in the second quarter. The Manufacturers Life Insurance Company now owns 58,751 shares of the construction company’s stock valued at $5,125,000 after acquiring an additional 20,841 shares during the period. Creative Planning increased its stake in AAON by 27.1% in the second quarter. Creative Planning now owns 18,421 shares of the construction company’s stock valued at $1,607,000 after acquiring an additional 3,925 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in AAON by 32.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 6,495 shares of the construction company’s stock worth $567,000 after buying an additional 1,582 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in AAON by 11.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 22,242 shares of the construction company’s stock worth $1,941,000 after buying an additional 2,237 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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 lifted their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Robert W. Baird boosted their target price on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson boosted their target price on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.00.

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.