AAON (NASDAQ:AAON) Hits New 1-Year Low – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $69.52 and last traded at $75.71, with a volume of 822028 shares changing hands. The stock had previously closed at $73.52.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAON. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a report on Friday. Finally, DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Up 2.4 %

The stock has a fifty day moving average of $115.69 and a 200-day moving average of $114.26. The company has a market cap of $6.12 billion, a PE ratio of 33.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

Insider Activity

In related news, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total transaction of $690,000.00. Following the completion of the sale, the chief financial officer now owns 17,297 shares in the company, valued at $2,386,986. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen E. Wakefield sold 5,362 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares in the company, valued at $597,052.42. This represents a 54.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after acquiring an additional 84 shares in the last quarter. Captrust Financial Advisors increased its position in AAON by 1.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after purchasing an additional 100 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of AAON by 5.2% in the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after purchasing an additional 100 shares during the period. Finally, Smith Moore & CO. boosted its stake in shares of AAON by 3.1% during the fourth quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock valued at $388,000 after purchasing an additional 100 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

About AAON

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.