AAON (NASDAQ:AAON) Shares Gap Down on Disappointing Earnings

AAON, Inc. (NASDAQ:AAON)’s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $102.02, but opened at $88.08. AAON shares last traded at $80.72, with a volume of 256,603 shares trading hands.

The construction company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.24). AAON had a net margin of 15.78% and a return on equity of 24.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAON shares. DA Davidson boosted their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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. Two research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Buying and Selling

In other AAON news, CFO Rebecca Thompson sold 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the sale, the chief financial officer now owns 17,297 shares of the company’s stock, valued at $2,386,986. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stephen E. Wakefield sold 5,362 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, 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 disclosure for this sale can be found here. 18.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

Several large investors have recently made changes to their positions in AAON. Norges Bank bought a new stake in shares of AAON in the 4th quarter worth about $76,581,000. Raymond James Financial Inc. bought a new stake in shares of AAON in the 4th quarter worth about $73,313,000. Wasatch Advisors LP grew its holdings in shares of AAON by 39.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the last quarter. First Trust Advisors LP lifted its position in AAON by 85.6% during the 4th quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after buying an additional 493,219 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in AAON during the 4th quarter worth about $42,449,000. Institutional investors own 70.81% of the company’s stock.

AAON Trading Down 18.6 %

The company’s 50-day moving average is $118.52 and its 200-day moving average is $114.31. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 36.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

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.