AAON, Inc. (NASDAQ:AAON – Get Free Report)’s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $62.87, but opened at $71.64. AAON shares last traded at $77.3580, with a volume of 813,722 shares.
The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.26. AAON had a net margin of 8.24% and a return on equity of 17.32%. The firm had revenue of $707.43 million for the quarter, compared to analysts’ expectations of $601.19 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue was up 84.1% on a year-over-year basis.
AAON Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given 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 yield of 0.5%. AAON’s dividend payout ratio is presently 20.83%.
Trending Headlines about AAON
Here are the key news stories impacting AAON this week:
- Positive Sentiment: Third-quarter revenue rose 84.1% year over year to a record $707.4 million, beating the roughly $601 million consensus. EPS of $0.83 also topped the $0.57 estimate and more than doubled from $0.37 a year earlier. AAON third-quarter results and outlook
- Positive Sentiment: AAON raised its 2026 sales-growth outlook to 72%–75%, with revenue guidance of about $2.5 billion versus analyst expectations near $2.3 billion. Backlog increased 40.5% year over year to $1.9 billion, and year-to-date operating cash flow improved to $146.9 million. AAON Q3 revenue and operating metrics
- Positive Sentiment: The board declared a quarterly cash dividend of $0.10 per share, payable December 17 to shareholders of record November 25. AAON quarterly dividend announcement
- Neutral Sentiment: Robert W. Baird lowered its price target to $104 from $110 but maintained an “outperform” rating, indicating continued analyst optimism despite the reduced target. Baird rating and price-target update
- Negative Sentiment: AAON restated its first- and second-quarter 2026 financial statements after identifying errors in revenue recognition and software subscriptions. Although the changes increased first-half reported sales and EPS, the company also disclosed a material weakness in internal controls and said remediation is ongoing. AAON restatement and internal-control disclosure
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of AAON from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. DA Davidson began coverage on shares of AAON in a report on Tuesday, September 15th. They set a “buy” rating and a $110.00 target price for the company. KeyCorp reissued a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Finally, Oppenheimer restated an “outperform” rating on shares of AAON in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.67.
Get Our Latest Research Report on AAON
Insider Buying and Selling
In other news, Director David Stewart bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $298,640. The trade was a 33.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Shaub bought 457 shares of the stock in a transaction dated Friday, August 28th. The stock was purchased at an average price of $76.42 per share, with a total value of $34,923.94. Following the purchase, the executive vice president owned 3,136 shares in the company, valued at $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 18.09% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On AAON
Several institutional investors and hedge funds have recently added to or reduced their stakes in AAON. SBI Securities Co. Ltd. boosted its holdings in shares of AAON by 363.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 477 shares of the construction company’s stock valued at $39,000 after buying an additional 374 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its stake in shares of AAON by 422.3% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 491 shares of the construction company’s stock worth $42,000 after acquiring an additional 397 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of AAON by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock worth $45,000 after acquiring an additional 178 shares in the last quarter. NI Acquisitions Company LLC bought a new position in shares of AAON in the 2nd quarter worth about $102,000. Finally, Central Pacific Bank Trust Division purchased a new position in AAON during the 3rd quarter valued at about $103,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.
AAON Stock Performance
The company has a market capitalization of $6.55 billion, a PE ratio of 40.98, a PEG ratio of 1.08 and a beta of 1.45. The business’s 50-day moving average is $76.73 and its 200-day moving average is $96.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01.
About AAON
AAON, Inc designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands.
Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services.
AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.
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