Robert W. Baird Raises AAON (NASDAQ:AAON) Price Target to $138.00

AAON (NASDAQ:AAON) had its price objective boosted by investment analysts at Robert W. Baird from $130.00 to $138.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential downside of 0.17% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

AAON Stock Performance

AAON opened at $138.24 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 62.27 and a beta of 0.79. AAON has a 12-month low of $57.19 and a 12-month high of $139.63. The business has a 50 day moving average of $106.07 and a 200-day moving average of $91.56.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, equities research analysts expect that AAON will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On AAON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. boosted its position in shares of AAON by 106.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after acquiring an additional 561,195 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of AAON in the 2nd quarter valued at $44,934,000. Millennium Management LLC increased its stake in shares of AAON by 212.3% in the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock valued at $57,278,000 after purchasing an additional 446,344 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of AAON by 552.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after buying an additional 296,423 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of AAON during the 2nd quarter worth $15,700,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.