AAON (NASDAQ:AAON) Hits New 12-Month Low - What's Next?

Key Points

• AAON shares hit a new 52-week low of $72.68, trading below both their 50-day ($80.75) and 200-day ($101.76) moving averages.
• Analyst sentiment remains cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $120, although several firms recently reduced their targets.
• The company exceeded quarterly expectations with $0.69 EPS versus $0.51 expected and revenue of $626.98 million, while paying a $0.10 quarterly dividend for a 0.5% yield.

AAON, Inc. (NASDAQ:AAON - Get Free Report) reached a new 52-week low during 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.

Wall Street Analyst Weigh In

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

AAON Stock Performance

The stock has a market capitalization of $6.28 billion, a P/E ratio of 39.53, a P/E/G ratio of 1.37 and a beta of 1.41. The stock has a 50 day simple moving average of $80.75 and a two-hundred day simple moving average of $101.76. 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 - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.18. The company had revenue of $626.98 million for the quarter, compared to analysts' expectations of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%. The business's revenue was up 101.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities analysts forecast that AAON, Inc. will post 2.35 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's dividend payout ratio (DPR) is currently 20.83%.

Insiders Place Their Bets

In other news, EVP Matthew Shaub acquired 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, with a total value of $34,923.94. Following the transaction, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. The trade was a 17.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Stewart acquired 1,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at $298,640. The trade was a 33.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 18.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in AAON by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company's stock worth $45,000 after purchasing an additional 178 shares during the period. NI Acquisitions Company LLC bought a new stake in AAON in the second quarter valued at approximately $102,000. Summit Securities Group LLC raised its stake in AAON by 73.9% in the first quarter. Summit Securities Group LLC now owns 1,024 shares of the construction company's stock valued at $85,000 after buying an additional 435 shares during the period. Central Pacific Bank Trust Division bought a new stake in AAON in the third quarter valued at approximately $103,000. Finally, Brighton Securities CORP. acquired a new stake in shares of AAON in the second quarter valued at approximately $240,000. 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.

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