AAON (NASDAQ:AAON) Trading Down 7% – What’s Next?

AAON, Inc. (NASDAQ:AAON) shares traded down 7% on Monday . The stock traded as low as $86.95 and last traded at $88.1880. 354,835 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,022,569 shares. The stock had previously closed at $94.83.

AAON News Roundup

Here are the key news stories impacting AAON this week:

• Positive Sentiment: AAON reported record second-quarter net sales of $627.0 million, up 101.2% year over year. Operating income increased 192.1% to $68.9 million, while diluted EPS rose 258% to $0.68. AAON Reports Record Second Quarter 2026 Results
• Positive Sentiment: Results significantly exceeded expectations: adjusted quarterly earnings were reported at $0.69 per share versus the approximately $0.51-$0.52 consensus, and revenue of nearly $627 million topped estimates near $509 million. AAON Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook to projected revenue of $2.2 billion-$2.3 billion, above the roughly $2.1 billion analyst consensus. The company expects 55%-60% sales growth, gross margins of approximately 25%-26%, and SG&A of 13%-14% of sales.
• Positive Sentiment: Backlog nearly doubled year over year to $2.0 billion, and first-half operating cash flow improved to $55 million from a $31 million use of cash in the prior-year period, supporting the company’s growth and capacity-expansion story. AAON Reports Record Q2 2026 Sales and Raises Full Year Outlook
• Neutral Sentiment: Despite the earnings beat and higher guidance, AAON shares have decreased. The provided reports do not identify a new operational setback; the reaction may reflect profit-taking, elevated growth expectations, or investor focus on execution and margins as the company scales.
• Negative Sentiment: Recent insider activity has consisted entirely of sales, with 17 reported open-market sales and no purchases during the past six months. This may weigh on sentiment, although insider selling does not necessarily indicate deteriorating business fundamentals.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AAON shares. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Zacks Research lowered AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reiterated an “outperform” rating on shares of AAON in a report on Friday, May 8th. Finally, KeyCorp assumed coverage on shares of AAON in a research report on Thursday, July 23rd. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Trading Down 8.4%

The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 60.68, a P/E/G ratio of 2.64 and a beta of 1.45. 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 has a fifty day moving average of $116.39 and a 200-day moving average of $105.93.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. The company had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The firm’s quarterly revenue was up 101.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, equities analysts predict that AAON, Inc. will post 2.24 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, June 5th. AAON’s dividend payout ratio (DPR) is presently 27.97%.

Insider Activity

In related news, CAO Rebecca Thompson sold 4,230 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total transaction of $606,666.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the completion of the transaction, the executive vice president owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. This represents a 21.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 108,908 shares of company stock worth $15,000,124 in the last ninety days. 18.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after acquiring an additional 164 shares in the last quarter. Summit Securities Group LLC bought a new stake in AAON during the fourth quarter valued at $45,000. Danske Bank A S acquired a new stake in shares of AAON during the third quarter worth $47,000. Huntington National Bank raised its holdings in shares of AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after buying an additional 282 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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.