AAON, Inc. (NASDAQ:AAON) Short Interest Up 6.2% in June

AAON, Inc. (NASDAQ:AAON) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,497,000 shares, a growth of 6.2% from the May 15th total of 4,233,900 shares. Approximately 11.1% of the shares of the company are short sold. Based on an average daily trading volume, of 137,900 shares, the days-to-cover ratio is currently 32.6 days.

A number of equities research analysts have commented on the stock. TheStreet lowered shares of Trade Desk from a “b-” rating to a “c-” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday, July 8th. DA Davidson reissued a “buy” rating and set a $90.00 price objective on shares of Lumentum in a report on Monday, May 6th. Finally, BidaskClub lowered shares of Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. AAON has an average rating of “Hold” and an average price target of $40.50.

AAON stock traded up $0.54 during trading hours on Friday, reaching $51.17. 185,836 shares of the company’s stock traded hands, compared to its average volume of 119,448. AAON has a fifty-two week low of $31.55 and a fifty-two week high of $52.50. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 63.17, a price-to-earnings-growth ratio of 2.67 and a beta of 0.99. The business’s 50 day moving average price is $49.00.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 2nd. The construction company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $113.82 million for the quarter, compared to analyst estimates of $109.92 million. AAON had a net margin of 10.97% and a return on equity of 19.79%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. As a group, sell-side analysts expect that AAON will post 1.28 earnings per share for the current fiscal year.

The company also recently declared a semiannual dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.16 dividend. The ex-dividend date was Friday, May 31st. AAON’s dividend payout ratio is 39.51%.

In other news, VP Stephen E. Wakefield sold 1,118 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $47.83, for a total value of $53,473.94. Following the sale, the vice president now owns 6,878 shares of the company’s stock, valued at approximately $328,974.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rebecca Thompson sold 1,100 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $47.97, for a total transaction of $52,767.00. Following the sale, the insider now directly owns 10,960 shares in the company, valued at approximately $525,751.20. The disclosure for this sale can be found here. Insiders sold a total of 6,042 shares of company stock worth $292,967 in the last three months. Insiders own 22.24% of the company’s stock.

Several large investors have recently made changes to their positions in AAON. PRW Wealth Management LLC acquired a new stake in AAON during the 4th quarter worth approximately $46,000. Belpointe Asset Management LLC bought a new position in shares of AAON in the first quarter valued at $116,000. Bank of Montreal Can grew its stake in shares of AAON by 12.1% in the fourth quarter. Bank of Montreal Can now owns 2,689 shares of the construction company’s stock valued at $94,000 after buying an additional 290 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of AAON in the fourth quarter valued at $133,000. Finally, Cim LLC bought a new position in shares of AAON in the first quarter valued at $218,000. Institutional investors and hedge funds own 73.38% of the company’s stock.

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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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