AAON (NASDAQ:AAON) Trading Down 4.4% - Should You Sell?

Key Points

• AAON, Inc. shares fell by 4.4% to a recent trading price of $80.26, with a total of 684,755 shares traded during the day, reflecting a significant decline in volume compared to the average.
• The company reported quarterly earnings of $0.22 per share, falling short of estimates by $0.09, while its revenue also decreased 0.6% year-over-year.
• AAON announced a quarterly dividend of $0.10 per share, with an annualized payout of $0.40, contributing to a 0.5% dividend yield.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s stock price traded down 4.4% on Wednesday . The stock traded as low as $79.81 and last traded at $80.26. 684,755 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 1,012,798 shares. The stock had previously closed at $83.99.

Analysts Set New Price Targets

A number of research analysts have commented on AAON shares. DA Davidson decreased their price target on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Monday, June 16th. Finally, Robert W. Baird lowered their target price on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $102.00.

AAON Trading Up 3.3%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 62.29 and a beta of 1.00. The business's 50 day moving average price is $81.50 and its 200-day moving average price is $83.75.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.09). The business had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.AAON's revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Equities analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 5th. AAON's payout ratio is 27.21%.

Insider Buying and Selling at AAON

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the transaction, the chief financial officer owned 24,396 shares in the company, valued at $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the sale, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. The trade was a 69.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. boosted its position in AAON by 613.3% during the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after purchasing an additional 276 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after acquiring an additional 164 shares during the period. Versant Capital Management Inc boosted its holdings in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after acquiring an additional 287 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AAON during the second quarter worth approximately $26,000. Finally, UMB Bank n.a. boosted its stake in AAON by 81.2% in the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after purchasing an additional 264 shares during the period. 70.81% of the stock is currently owned by institutional investors.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.