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In a market that has seen its fair share of volatility, AAON (NASDAQ:AAON) Inc. has experienced a notable downturn, with its stock price reaching a 52-week low of $70.22. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, with the shares falling nearly 27% in just the past week. This latest price level reflects a significant retreat from more favorable positions in the past year, with the company’s shares witnessing a 1-year change that registers a decline of 12.86%. Despite the recent pullback, AAON maintains strong fundamentals with a current ratio of 2.79 and operates with moderate debt levels. Analysts maintain a consensus target range between $102 and $125, suggesting potential upside from current levels. Investors are closely monitoring AAON’s performance, as the stock’s current trajectory contrasts with the broader market trends and raises questions about potential factors influencing this heating, ventilation, and air conditioning (HVAC) manufacturer’s valuation. Get access to 15 additional exclusive ProTips and comprehensive analysis with InvestingPro.
In other recent news, AAON, Inc. reported fourth-quarter earnings and revenue that missed analyst expectations significantly. The company posted adjusted earnings per share of $0.30, falling short of the expected $0.53. Revenue also came in below estimates at $297.72 million, compared to the anticipated $331.02 million, marking a 2.9% year-over-year decline. Gross profit decreased by 30.5% to $77.6 million, with gross margins contracting due to lower volumes and fixed cost deleveraging, particularly in its Oklahoma segment. Despite these setbacks, the company noted a 70% increase in its total backlog for 2024, driven by strong demand for data center cooling solutions.
Additionally, DA Davidson adjusted its price target for AAON to $125 from $150, while maintaining a Buy rating. The revision was based on realigned expectations for 2025, including a 13% decrease in EBITDA predictions. Analyst Brent Thielman emphasized the importance of AAON’s execution in its data center business and noted potential market share gains in the rooftop segment. The company’s board also approved a new $100 million share repurchase program, although the focus remains on organic investments to support growth.
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