May 8, 2023 – AAON (NASDAQ:AAON) made waves in the construction industry after its impressive quarterly earnings report on May 4th. The company reported a $0.13 EPS beat, recording $0.67 EPS for the quarter, compared to analysts’ consensus estimates of $0.54. Revenue was reported at $265.95 million, also surpassing analyst predictions by over $17 million.
This outstanding performance is not surprising given the company’s low debt-to-equity ratio of 0.13, current ratio of 2.40 and quick ratio of 1.03, indicating an efficiently managed financial structure that is conducive to growth and profitability.
As of Monday’s opening bell, AAON stock started at $103.26, which showcases an impressive one year high of $104.32 as well as a low of only $48.97 during this period. This success has led to a market cap valuation of over $5 billion- solidifying AAON’s stable position within the industry.
Despite its accomplishments and optimistic outlook from experts, some equity analysts have expressed caution towards moving forward with investments into AAON stock recently published studies opt for a more conservative approach to future investments citing Market Perform ratings rather than Outperform rating hoping for stability rather than explosive growth past performances.
Additionally, analyses show that approximately 19% percent of AAON stocks are owned by corporate insiders: more specifically vice presidents Wichman Gordon Douglas and Casey Kidwell selling around 5000 shares between one another at an average price range of about ninety-two dollars each per share last March which leads some investors hopeful for insider insight into the future direction of the company.
Nonetheless if we see this earnings report demonstrate anything it is that AAON has continued strides that are sustainable yet enable growth potential making it hard to ignore their upward trajectory especially within its balanced management skills illustrated through its recent low debt-to-equity ratios.
Overall, AAON’s most recent financials demonstrate a promising future outlook for the company especially within an increasingly buoyant construction sector.
AAON, Inc. Inks Institutional Investments, Projects Strong Earnings Growth in Q2 2023
AAON, Inc. (NASDAQ:AAON) is making moves in the construction industry as equities researchers at DA Davidson issue their Q2 2023 earnings per share estimates for the company. According to DA Davidson analyst B. Thielman, AAON will earn $0.63 per share for the quarter with the consensus estimate for current full-year earnings being $2.84 per share. The investment firm also issued estimates for FY2023 and FY2024 earnings at $2.84 EPS and $3.33 EPS, respectively.
Institutional investors have been quick to jump on board with shares of AAON, including Group One Trading L.P., who purchased a new stake worth $39,000 during the first quarter of this year. Additionally, Citigroup Inc. increased its holdings in AAON by 7.4%, now owning 39,894 shares of the construction company’s stock worth $2,223,000 after purchasing an additional 2,740 shares during the period.
MetLife Investment Management LLC saw a significant increase in their holdings in AAON by 55.6% during Q1 2023, now owning 22,269 shares of the company’s stock worth $1,241,000 after purchasing an additional 7,960 shares during the period.
Rhumbline Advisers also increased their holdings in AAON by 3.2% during Q1 2023 and now own 122,265 shares of the construction company’s stock worth $6,814,000 after purchasing an additional 3,737 shares during that same time frame.
Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased their holdings in AAON by 14.1% during Q1 this year as well with now owning35,706 shares of the construction company’s stock worth $1,9900 million after purchasing an additional 4,402 shares during that period.
As a result of these institutional investments, hedge funds and other institutional investors now own 70.08% of the company’s stock. The future looks bright for AAON as the company continues to capitalize on its innovative construction techniques and unique approach to the industry.