AAON gains after lifting annual forecast
AAON•Shares rise after higher annual outlook
Shares of air conditioning and heating equipment maker AAON rose 7.2% to $101.66 premarket.
AAON raised its net sales growth forecast to the range of 55% to 60%, from a prior forecast of 40% to 45%.
The company posted second-quarter sales and adjusted EPS of $626.98 million and 69 cents, both beating analysts' estimates of $491.5 million and 51 cents, according to data compiled by LSEG.
Sales rose on strong demand across the AAON and BASX brands, improved production efficiency and greater use of expanded production capacity.
Seven of eight brokerages rate the stock "buy" or higher, and one rates it "hold"; the median price target is $135.5.
As of the last close, the stock was up 24.4% year to date.
