Aaon (AAON) Stock Jumps 5.6%: Will It Continue to Soar?

Aaon (AAON) shares soared 5.6% in the last trading session to close at $116.60. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% loss over the past four weeks.Shares of this commercial and industrial HVAC solutions manufacturer are expected to have gained due to favorable demand trends for data center equipment, leveraged by its highly engineered solutions-based product offerings. Also, its focus on facility expansion and a strategic capital allocation strategy are likely to have boosted investors’ sentiments.This maker of air conditioning and heating equipment is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of -3.6%. Revenues are expected to be $326.4 million, up 6.4% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Aaon, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AAON going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Aaon belongs to the Zacks Building Products - Air Conditioner and Heating industry. Another stock from the same industry, Watsco (WSO), closed the last trading session 0.5% higher at $484.31. Over the past month, WSO has returned 1.7%.For Watsco, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.13. This represents a change of +3.4% from what the company reported a year ago. Watsco currently has a Zacks Rank of #2 (Buy).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AAON, Inc. (AAON): Free Stock Analysis Report Watsco, Inc. (WSO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks