Robert W. Baird Lowers AAON (NASDAQ:AAON) Price Target to $116.00

AAON (NASDAQ:AAON) had its price target reduced by equities research analysts at Robert W. Baird from $155.00 to $116.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s target price points to a potential upside of 51.04% from the company’s previous close.

A number of other research firms also recently issued reports on AAON. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Friday. DA Davidson lifted their price target on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

AAON Price Performance

AAON stock opened at $76.80 on Friday. The company has a market capitalization of $6.24 billion, a P/E ratio of 33.83 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. AAON has a 52-week low of $70.28 and a 52-week high of $144.07. The business has a 50-day simple moving average of $116.69 and a two-hundred day simple moving average of $114.00.

Insiders Place Their Bets

In related news, VP Stephen E. Wakefield sold 5,362 shares of AAON stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total value of $702,368.38. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction that occurred on Thursday, December 5th. The stock was 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 directly owns 17,297 shares in the company, valued at $2,386,986. This trade represents a 22.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Hedge funds have recently modified their holdings of the stock. Mather Group LLC. raised its holdings in AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Blue Trust Inc. raised its holdings in AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock valued at $32,000 after acquiring an additional 198 shares during the period. Twin Tree Management LP bought a new stake in AAON during the 4th quarter valued at $33,000. Westside Investment Management Inc. bought a new stake in AAON during the 3rd quarter valued at $36,000. Finally, Quarry LP raised its holdings in AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after acquiring an additional 103 shares during the period. Institutional investors 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.