AAON (NASDAQ:AAON) Shares Gap Up – What’s Next?

AAON, Inc. (NASDAQ:AAON)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $75.83, but opened at $78.68. AAON shares last traded at $76.0920, with a volume of 31,649 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAON. Robert W. Baird decreased their target price on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reissued an “outperform” rating and issued a $115.00 price target (down from $125.00) on shares of AAON in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Monday, October 12th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

AAON Stock Down 1.4%

The company’s fifty day moving average is $79.16 and its two-hundred day moving average is $97.84. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 38.93 and a beta of 1.41.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. The firm had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. The business’s revenue for the quarter was up 101.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Sell-side analysts predict that AAON, Inc. will post 2.35 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON’s dividend payout ratio (DPR) is presently 20.83%.

Insider Buying and Selling

In other AAON news, EVP Matthew Shaub bought 457 shares of AAON stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $76.42 per share, with a total value of $34,923.94. Following the completion of the acquisition, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This represents a 17.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Stewart bought 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at approximately $298,640. The trade was a 33.33% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AAON. SBI Securities Co. Ltd. increased its stake in AAON by 363.1% in the third quarter. SBI Securities Co. Ltd. now owns 477 shares of the construction company’s stock valued at $39,000 after purchasing an additional 374 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in AAON by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock worth $45,000 after purchasing an additional 178 shares during the last quarter. Summit Securities Group LLC raised its stake in AAON by 73.9% during the first quarter. Summit Securities Group LLC now owns 1,024 shares of the construction company’s stock worth $85,000 after purchasing an additional 435 shares during the period. NI Acquisitions Company LLC acquired a new position in shares of AAON in the 2nd quarter valued at $102,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of AAON during the 3rd quarter valued at $103,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

About AAON

AAON, Inc designs and manufactures high-performance heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. Its product portfolio includes rooftop units, air-handling units, condensing units, chillers, geothermal heat pumps and related HVAC controls.

The company’s systems are used in applications such as office buildings, schools, healthcare facilities, retail properties, manufacturing plants and other commercial structures. AAON emphasizes configurable equipment, energy efficiency and integrated controls designed to support indoor comfort and air quality.

AAON was founded in 1988 by Norman H.