AAON (NASDAQ:AAON) Hits New 52-Week Low – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $66.39 and last traded at $69.37, with a volume of 872,173 shares trading hands. The stock had previously closed at $68.85.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. KeyCorp reissued a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Oppenheimer reissued an “outperform” rating and set a $115.00 price objective (down from $125.00) on shares of AAON in a research note on Wednesday, October 14th. DA Davidson reissued a “buy” rating and set a $110.00 price target on shares of AAON in a research report on Tuesday, September 15th. Robert W. Baird dropped their price target on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.00.

AAON Price Performance

The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The stock has a 50 day moving average price of $79.58 and a 200-day moving average price of $101.48.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.18. The business had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. AAON had a net margin of 8.24% and a return on equity of 17.32%. The business’s revenue was up 101.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, analysts forecast that AAON, Inc. will post 2.35 earnings per share for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.6%. AAON’s payout ratio is presently 20.83%.

Insiders Place Their Bets

In other news, EVP Matthew Shaub bought 457 shares of the stock in a transaction on Friday, August 28th. The stock was purchased at an average cost of $76.42 per share, with a total value of $34,923.94. Following the purchase, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. The trade was a 17.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David Stewart acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of $74.66 per share, with a total value of $74,660.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $298,640. This trade represents a 33.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 18.09% of the company’s stock.

Institutional Investors Weigh In On AAON

Institutional investors and hedge funds have recently modified their holdings of the stock. SummitTX Capital L.P. raised its position in AAON by 1.7% during the first quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company’s stock valued at $382,000 after acquiring an additional 76 shares in the last quarter. Arizona State Retirement System lifted its position in AAON by 0.8% in the second quarter. Arizona State Retirement System now owns 19,196 shares of the construction company’s stock worth $2,435,000 after purchasing an additional 161 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in AAON by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock valued at $45,000 after purchasing an additional 178 shares in the last quarter. Summitry LLC lifted its holdings in shares of AAON by 2.6% during the first quarter. Summitry LLC now owns 7,830 shares of the construction company’s stock valued at $648,000 after acquiring an additional 195 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in AAON by 0.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 46,843 shares of the construction company’s stock worth $3,877,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

About AAON

AAON, Inc designs and manufactures high-performance heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. Its product portfolio includes rooftop units, air-handling units, condensing units, chillers, geothermal heat pumps and related HVAC controls.

The company’s systems are used in applications such as office buildings, schools, healthcare facilities, retail properties, manufacturing plants and other commercial structures. AAON emphasizes configurable equipment, energy efficiency and integrated controls designed to support indoor comfort and air quality.

AAON was founded in 1988 by Norman H.