AAON (NASDAQ:AAON) Reaches New 52-Week Low - Should You Sell?

AAON, Inc. (NASDAQ:AAON - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $68.98 and last traded at $69.89, with a volume of 26804 shares changing hands. The stock had previously closed at $74.20.

Analyst Upgrades and Downgrades

AAON has been the subject of a number of recent research reports. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Friday, February 28th. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Robert W. Baird dropped their price target on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, AAON has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Price Performance

The company's 50-day simple moving average is $89.36 and its 200 day simple moving average is $110.83. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 37.08 and a beta of 0.96. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

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AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. This is a boost from AAON's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON's dividend payout ratio is currently 19.90%.

AAON declared that its board has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at AAON

In related news, Director David Raymond Stewart acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.55% of the company's stock.

Institutional Investors Weigh In On AAON

A number of institutional investors have recently added to or reduced their stakes in AAON. Norges Bank acquired a new stake in shares of AAON during the 4th quarter worth approximately $76,581,000. Raymond James Financial Inc. acquired a new stake in AAON during the fourth quarter worth $73,313,000. First Trust Advisors LP boosted its stake in AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after buying an additional 493,219 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in AAON in the 4th quarter valued at $42,449,000. Finally, Invesco Ltd. raised its stake in shares of AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after buying an additional 274,119 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

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.