Long Position on AAON @ $90.00 on 3/13/2023 (Momentum)

AAON, Inc. (AAON) 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.

The company markets and sells its products to retail, manufacturing, educational, lodging, supermarket, data centers, medical and pharmaceutical, and other commercial industries.

It sells its products through a network of independent manufacturer representative organizations and internal sales force, as well as online. 

Shares have formed a bullish "flag" following its latest quarterly report. Higher share prices are expected. On February 27th, AAON reported 4th Quarter December 2022 earnings of $0.71 per share on revenue of $254.6 million. The consensus earnings estimate was $0.55 per share on revenue of $240.3 million.  Revenue grew 86.8% on a year-over-year basis.

Entry Point: $90.00

Stop Loss: $86.00

Trading Range: $47.50 to $94.45

Target Price: $99.00

Position closed on 4/10/2023 at price of $94.00 with a 4.44% gain in 28 days.

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