AAON (NASDAQ:AAON) Hits New 52-Week Low – Here’s What Happened

AAON, Inc. (NASDAQ:AAON) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $69.52 and last traded at $75.71, with a volume of 822028 shares traded. The stock had previously closed at $73.52.

Wall Street Analyst Weigh In

AAON has been the subject of a number of analyst reports. DA Davidson decreased 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. Robert W. Baird decreased their price target on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday. Finally, CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.50.

AAON Stock Performance

The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 33.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm has a fifty day simple moving average of $115.69 and a two-hundred day simple moving average of $114.26.

Insider Buying and Selling

In other news, CFO Rebecca Thompson sold 5,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $138.00, for a total value of $690,000.00. Following the transaction, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares of the company’s stock, valued at approximately $597,052.42. The trade was a 54.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of AAON in the 4th quarter valued at $76,581,000. Raymond James Financial Inc. acquired a new position in AAON during the fourth quarter valued at $73,313,000. Wasatch Advisors LP boosted its holdings in AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after purchasing an additional 525,132 shares during the last quarter. First Trust Advisors LP grew its position in AAON by 85.6% during the 4th quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after purchasing an additional 493,219 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of AAON during the 4th quarter valued at about $42,449,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.