2024-03-10 06:50:14 ET
Summary
- AAON's shares have been on a tear over the two years, returning 123% over this time period.
- The company has delivered impressive growth on both the top line and bottom line and this quarter was no different.
- With concerns about slowing office demand, a weaker construction market, and softening backlog, the company's growth rate is likely to decelerate.
- At the current valuation, AAON's shares are priced for perfection at more than double the trading multiples of its peers.
Introduction
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AAON: This HVAC Manufacturer's Valuation Needs To Cool Down