Why Shares of AAON Soared This Week
Shares of premium heating, ventilation, and air-conditioning (HVAC) company AAON (NASDAQ: AAON) soared by 12.2% this week through the close of trading on Thursday.
In a week where major industrial companies reported earnings, AAON's stock performance wasn't so much about its earnings (they will be released on Nov.7) but more about what its peers, like Carrier (NYSE: CARR), are saying.
AAON is a player in the premium industrial, commercial, and nonresidential HVAC market. That's a good thing right now because it's a case of two markets. First, the residential market is slowing due to tough comparisons with 2021 (when consumers elected to spend more on their homes due to stay-at-home measures) and slowing consumer spending.
Source Fool.com
