AAON (NASDAQ:AAON) Hits New 52-Week Low – Here’s Why

Shares of AAON, Inc. (NASDAQ:AAON) reached 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. The stock had previously closed at $68.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAON. Zacks Research cut shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reiterated 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. Robert W. Baird dropped their price target on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Finally, DA Davidson restated a “buy” rating and set a $110.00 price objective on shares of AAON in a report on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.00.

AAON Trading Up 7.1%

The stock has a market cap of $6.25 billion, a PE ratio of 39.49 and a beta of 1.41. The firm’s 50-day moving average price is $79.16 and its two-hundred day moving average price is $97.84.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share 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. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 101.2% compared to the same quarter last year. On average, analysts anticipate that AAON, Inc. will post 2.35 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given 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 yield of 0.5%. AAON’s dividend payout ratio (DPR) is currently 20.83%.

Insider Activity

In other news, Director David Stewart bought 1,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $74.66 per share, with a total value of $74,660.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $298,640. This trade represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Shaub purchased 457 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the transaction, the executive vice president owned 3,136 shares of the company’s stock, valued at $239,653.12. This trade represents a 17.06% 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.

Hedge Funds Weigh In On AAON

A number of hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC boosted its stake in AAON by 78.3% during the third quarter. Evergreen Capital Management LLC now owns 6,840 shares of the construction company’s stock worth $566,000 after buying an additional 3,004 shares during the period. Yousif Capital Management LLC boosted its position in AAON by 2.3% in the 3rd quarter. Yousif Capital Management LLC now owns 19,413 shares of the construction company’s stock valued at $1,607,000 after buying an additional 442 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of AAON by 363.1% in the third quarter. SBI Securities Co. Ltd. now owns 477 shares of the construction company’s stock valued at $39,000 after acquiring an additional 374 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in AAON by 20.2% in the third quarter. Crossmark Global Holdings Inc. now owns 6,818 shares of the construction company’s stock valued at $564,000 after purchasing an additional 1,148 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in AAON in the 3rd quarter valued at about $15,090,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.