AAON (NASDAQ:AAON) Stock Price Down 7.9% – Time to Sell?

AAON, Inc. (NASDAQ:AAON) shares fell 7.9% during trading on Wednesday . The stock traded as low as $119.42 and last traded at $119.4440. 497,217 shares were traded during trading, a decline of 51% from the average session volume of 1,023,505 shares. The stock had previously closed at $129.66.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAON. Zacks Research upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Oppenheimer reissued an “outperform” rating on shares of AAON in a research report on Friday, May 8th. William Blair reissued an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. Finally, Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $107.75.

AAON Stock Performance

The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $112.65 and a 200-day moving average of $97.01. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 83.53, a P/E/G ratio of 3.70 and a beta of 1.39.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The firm had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s revenue was up 54.3% on a year-over-year basis. As a group, sell-side analysts predict that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, June 5th. AAON’s dividend payout ratio (DPR) is currently 27.97%.

Insider Activity at AAON

In other AAON news, EVP Gordon Douglas Wichman sold 3,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total transaction of $421,170.00. Following the sale, the executive vice president directly owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. This trade represents a 21.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary D. Fields sold 19,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the sale, the director directly owned 15,252 shares in the company, valued at $2,138,330.40. This represents a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,698 shares of company stock worth $19,986,463 in the last three months. Company insiders own 18.09% of the company’s stock.

Institutional Investors Weigh In On AAON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summitry LLC grew its position in AAON by 2.6% during the 1st 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. EverSource Wealth Advisors LLC lifted its stake in shares of AAON by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock valued at $45,000 after purchasing an additional 178 shares during the period. California State Teachers Retirement System lifted its stake in shares of AAON by 22.7% in the 1st quarter. California State Teachers Retirement System now owns 80,436 shares of the construction company’s stock valued at $6,656,000 after purchasing an additional 14,878 shares during the period. Empowered Funds LLC acquired a new position in shares of AAON in the 1st quarter valued at $1,312,000. Finally, American Capital Management Inc. lifted its stake in shares of AAON by 1.9% in the 1st quarter. American Capital Management Inc. now owns 276,884 shares of the construction company’s stock valued at $22,912,000 after purchasing an additional 5,147 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.