DA Davidson Forecasts AAON’s FY2024 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Equities researchers at DA Davidson decreased their FY2024 EPS estimates for AAON in a research report issued to clients and investors on Monday, November 11th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $2.23 for the year, down from their prior estimate of $2.24. DA Davidson currently has a “Buy” rating and a $150.00 target price on the stock. The consensus estimate for AAON’s current full-year earnings is $2.26 per share.

A number of other analysts also recently issued reports on AAON. Robert W. Baird lifted 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. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and lifted their target price for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

AAON Price Performance

NASDAQ:AAON opened at $137.73 on Wednesday. AAON has a 52-week low of $57.56 and a 52-week high of $144.07. The stock has a fifty day moving average of $107.94 and a 200 day moving average of $92.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 60.67 and a beta of 0.79.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $327.25 million during the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 25.34%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. grew its holdings in shares of AAON by 106.3% during the 2nd 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 purchasing an additional 561,195 shares during the last quarter. Blair William & Co. IL bought a new position in shares of AAON during the second quarter valued at about $44,934,000. Millennium Management LLC increased its holdings in shares of AAON by 212.3% in the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after buying an additional 446,344 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of AAON by 552.4% in the 2nd 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 during the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of AAON in the 2nd quarter valued at about $15,700,000. 70.81% of the stock is currently owned by institutional investors.

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.