AAON (NASDAQ:AAON) Hits New 1-Year Low - Here's What Happened

Key Points

• AAON shares hit a new 52-week low, trading as low as $66.39 and last changing hands at $69.37. The stock’s 50-day and 200-day moving averages were substantially higher at $79.58 and $101.48, respectively.
• Analyst sentiment remains mixed but leans positive: AAON has a consensus rating of “Moderate Buy” from seven analysts, with a $120 average price target. However, several firms recently lowered targets or downgraded their ratings.
• The company reported strong quarterly results, with EPS of $0.69 beating estimates of $0.51 and revenue rising 101.2% year over year to $626.98 million. AAON also pays a quarterly dividend of $0.10 per share and recently reported purchases by two insiders.

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

Analyst Ratings Changes

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

AAON Stock Up 1.2%

The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 1.28 and a beta of 1.41. The stock's fifty day simple moving average is $79.58 and its two-hundred day simple moving average is $101.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $508.82 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company's quarterly revenue was up 101.2% on a year-over-year basis. On average, sell-side analysts predict that AAON, Inc. will post 2.35 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. AAON's dividend payout ratio (DPR) is 20.83%.

Insider Buying and Selling

In related news, EVP Matthew Shaub purchased 457 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the purchase, the executive vice president owned 3,136 shares in the company, valued at $239,653.12. The trade was a 17.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 directly owned 4,000 shares in the company, valued at approximately $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. 18.09% of the stock is owned by insiders.

Institutional Investors Weigh In On AAON

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

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.

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