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

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

Analyst Ratings Changes

AAON has been the topic of several research analyst reports. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. William Blair restated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $107.75.

AAON Stock Down 1.0%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The firm’s 50-day moving average is $114.43 and its 200 day moving average is $97.50. The firm has a market capitalization of $10.43 billion, a PE ratio of 89.04, a price-to-earnings-growth ratio of 3.39 and a beta of 1.39.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 54.3% compared to the same quarter last year. As a group, research analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.10 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON’s payout ratio is currently 27.97%.

Insiders Place Their Bets

In related news, Director Gary D. Fields sold 19,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.20, for a total value of $2,663,800.00. Following the completion of the transaction, the director owned 15,252 shares of the company’s stock, valued at approximately $2,138,330.40. The trade was a 55.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Thompson sold 4,230 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 150,473 shares of company stock worth $19,516,213. 18.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Summitry LLC raised its stake in AAON by 2.6% in the 1st quarter. Summitry LLC now owns 7,830 shares of the construction company’s stock valued at $648,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 last quarter. California State Teachers Retirement System raised its stake in 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 last quarter. Empowered Funds LLC acquired a new position in AAON in the 1st quarter valued at about $1,312,000. Finally, American Capital Management Inc. raised its stake in 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 last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.