Robert W. Baird Upgrades AAON (NASDAQ:AAON) to “Outperform”

AAON (NASDAQ:AAON) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $130.00 price target on the construction company’s stock, up from their previous price target of $114.00. Robert W. Baird’s price target would indicate a potential upside of 9.05% from the company’s previous close.

AAON has been the subject of a number of other reports. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Baird R W upgraded shares of AAON to a “hold” rating in a research report on Wednesday, July 24th. Finally, Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and upped their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

AAON Stock Down 1.7 %

NASDAQ:AAON opened at $119.21 on Monday. AAON has a one year low of $53.64 and a one year high of $122.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The company has a market cap of $9.80 billion, a PE ratio of 55.45 and a beta of 0.80. The firm’s 50 day simple moving average is $101.53 and its 200 day simple moving average is $89.60.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $313.57 million for the quarter, compared to analyst estimates of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. AAON’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts anticipate that AAON will post 2.28 earnings per share for the current year.

Insider Activity

In other news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now owns 5,135 shares of the company’s stock, valued at $448,850.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Hedge Funds Weigh In On AAON

A number of hedge funds have recently bought and sold shares of AAON. Vanguard Group Inc. boosted its holdings in AAON by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after purchasing an additional 61,544 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of AAON by 99.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock worth $1,520,000 after purchasing an additional 8,613 shares during the period. Janus Henderson Group PLC lifted its stake in AAON by 79.8% in the first quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock valued at $5,186,000 after purchasing an additional 26,141 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in AAON by 18.9% during the first quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock valued at $52,226,000 after purchasing an additional 94,026 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in AAON by 1.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 562,933 shares of the construction company’s stock worth $49,595,000 after buying an additional 6,766 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

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.