AAON (NASDAQ:AAON) Shares Down 6.8% – What’s Next?

AAON, Inc. (NASDAQ:AAON)’s share price was down 6.8% 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 research firms have recently commented on AAON. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Robert W. Baird dropped their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, Wall Street Zen lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

AAON Trading Down 14.2%

The company’s 50 day moving average price is $91.60 and its 200 day moving average price is $104.27. The firm has a market cap of $6.56 billion, a PE ratio of 34.88 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. AAON’s dividend payout ratio (DPR) is presently 21.05%.

AAON declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer now owns 26,491 shares in the company, valued at $2,613,602.06. The trade was a 23.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon Douglas Wichman sold 3,975 shares of AAON stock in a transaction on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the completion of the transaction, the director now owns 8,754 shares in the company, valued at $925,735.50. The trade was a 31.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 in the last ninety days. Insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AAON. Rakuten Securities Inc. boosted its holdings in shares of AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock valued at $25,000 after buying an additional 276 shares during the period. Versant Capital Management Inc boosted its stake in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock valued at $26,000 after purchasing an additional 287 shares in the last quarter. Twin Tree Management LP bought a new stake in AAON in the fourth quarter worth about $33,000. Quarry LP grew its position in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after buying an additional 103 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.