AAON (NASDAQ:AAON) Shares Down 6.8% - Should You Sell?

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) were down 6.8% during trading on Tuesday . The stock traded as low as $88.40 and last traded at $87.53. Approximately 129,712 shares were traded during trading, a decline of 80% from the average daily volume of 656,163 shares. The stock had previously closed at $93.96.

Analysts Set New Price Targets

Several analysts have commented on AAON shares. Robert W. Baird decreased their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. DA Davidson dropped their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. Finally, Wall Street Zen lowered shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AAON presently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

AAON Stock Performance

The firm's 50 day simple moving average is $91.65 and its 200-day simple moving average is $103.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 33.41 and a beta of 1.03.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company's revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. AAON's payout ratio is currently 21.05%.

AAON declared that its board has approved a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at AAON

In other AAON news, CEO Gary D. Fields sold 8,357 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the sale, the chief executive officer now directly owns 26,491 shares in the company, valued at $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gordon Douglas Wichman sold 3,975 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the sale, the director now owns 8,754 shares in the company, valued at $925,735.50. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock valued at $7,122,451 over the last 90 days. 18.70% of the stock is owned by insiders.

Institutional Trading of AAON

A number of institutional investors and hedge funds have recently bought and sold shares of AAON. Choreo LLC increased its stake in AAON by 10.7% during the fourth quarter. Choreo LLC now owns 2,813 shares of the construction company's stock worth $337,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of AAON by 350.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,800 shares of the construction company's stock worth $212,000 after buying an additional 1,400 shares during the period. Empowered Funds LLC purchased a new stake in shares of AAON during the fourth quarter worth approximately $42,000. Entropy Technologies LP acquired a new position in AAON in the fourth quarter valued at approximately $327,000. Finally, Savant Capital LLC acquired a new position in AAON in the fourth quarter valued at approximately $884,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Company Profile

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.