AAON (NASDAQ:AAON) Sets New 12-Month Low – Time to Sell?

AAON, Inc. (NASDAQ:AAON)’s stock price reached a new 52-week low on Wednesday. The stock traded as low as $61.77 and last traded at $60.1890, with a volume of 152,497 shares. The stock had previously closed at $69.08.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAON. KeyCorp reiterated a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Zacks Research cut shares of AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer reaffirmed an “outperform” rating and set a $115.00 price target (down from $125.00) on shares of AAON in a research note on Wednesday, October 14th. DA Davidson began coverage on shares of AAON in a report on Tuesday, September 15th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.00.

AAON Stock Performance

The stock has a 50 day moving average of $78.28 and a 200 day moving average of $97.51. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

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

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, September 4th. AAON’s dividend payout ratio is currently 20.83%.

Insider Buying and Selling at AAON

In other news, EVP Matthew Shaub bought 457 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $76.42 per share, with a total value of $34,923.94. Following the completion of the purchase, the executive vice president directly owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This represents a 17.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Stewart bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the acquisition, 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. The SEC filing for this purchase provides additional information. Corporate insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP lifted its stake in shares of AAON by 3.1% in the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock valued at $296,664,000 after purchasing an additional 70,399 shares during the period. First Trust Advisors LP grew its stake in AAON by 22.1% during the first quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock worth $166,594,000 after purchasing an additional 364,101 shares during the period. Pictet Asset Management Holding SA grew its stake in AAON by 38.1% during the third quarter. Pictet Asset Management Holding SA now owns 1,220,470 shares of the construction company’s stock worth $101,006,000 after purchasing an additional 336,730 shares during the period. Bank of New York Mellon Corp bought a new stake in AAON in the second quarter worth approximately $55,284,000. Finally, American Capital Management Inc. bought a new stake in AAON in the second quarter worth approximately $47,595,000. 70.81% of the stock is owned by institutional investors.

AAON Company Profile

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.