AAON (NASDAQ:AAON) Sets New 12-Month Low – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $72.68 and last traded at $72.99, with a volume of 78,963 shares trading hands. The stock had previously closed at $75.34.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Robert W. Baird dropped their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Oppenheimer restated an “outperform” rating and set a $115.00 price objective (down from $125.00) on shares of AAON in a research report on Wednesday, October 14th. KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Finally, Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

AAON Stock Up 1.8%

The company has a market capitalization of $6.20 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $80.32 and a two-hundred day moving average of $101.65.

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

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. AAON’s dividend payout ratio is currently 20.83%.

Insider Transactions at AAON

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

Institutional Investors Weigh In On AAON

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised 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 acquiring an additional 70,399 shares during the period. First Trust Advisors LP increased its holdings in AAON by 22.1% in the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock valued at $166,594,000 after purchasing an additional 364,101 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in AAON in the 2nd quarter valued at approximately $55,284,000. American Capital Management Inc. acquired a new stake in AAON in the 2nd quarter valued at approximately $47,595,000. Finally, Ranger Investment Management L.P. purchased a new stake in AAON in the second quarter valued at approximately $30,574,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.