AAON, Inc. (NASDAQ:AAON) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• AAON has a “Moderate Buy” consensus from seven analysts, with four buy ratings and three holds; the average 12-month price target is approximately $126.67.
• AAON’s second-quarter results significantly exceeded expectations, with EPS of $0.69 versus $0.51 forecast and revenue of $626.98 million versus $508.82 million expected. Revenue surged 101.2% year over year.
• Management forecasts 55%–60% sales growth in 2026, supported partly by data-center cooling demand, while recent analyst target reductions and substantial insider selling add caution for investors.

AAON, Inc. (NASDAQ:AAON - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $126.6667.

AAON has been the subject of a number of research analyst reports. Zacks Research downgraded shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Oppenheimer dropped their target price on shares of AAON from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Robert W. Baird decreased their price target on shares of AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, KeyCorp began coverage on shares of AAON in a report on Thursday, July 23rd. They issued a "sector weight" rating on the stock.

AAON News Summary

Here are the key news stories impacting AAON this week:

• Positive Sentiment: AAON reported second-quarter earnings of $0.69 per share, exceeding the $0.51 consensus estimate, while revenue reached approximately $626.98 million versus expectations of $508.82 million. Revenue more than doubled year over year, increasing 101.2%. AAON, Inc. Q2 2026 Earnings Call Summary
• Positive Sentiment: Management forecast 2026 sales growth of 55% to 60%, supported in part by continued data-center cooling demand, and is targeting a 25% to 26% gross margin. AAON sales growth forecast
• Positive Sentiment: Oppenheimer and Robert W. Baird retained “outperform” ratings despite reducing their targets to $125 and $135, respectively. Both targets imply substantial upside from the referenced share price. Analyst price targets

Insiders Place Their Bets

In other news, EVP Gordon Douglas Wichman sold 3,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total transaction of $421,170.00. Following the transaction, the executive vice president owned 10,997 shares of the company's stock, valued at $1,543,868.83. This represents a 21.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director owned 15,252 shares of the company's stock, valued at $2,138,330.40. The trade was a 55.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 47,403 shares of company stock valued at $6,663,055 over the last ninety days. 18.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of AAON by 429.3% in the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after purchasing an additional 65,813 shares during the period. NewEdge Advisors LLC lifted its stake in shares of AAON by 1.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock valued at $1,271,000 after buying an additional 294 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock worth $33,669,000 after buying an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock worth $18,204,000 after buying an additional 12,489 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 buying an additional 164 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Down 0.6%

Shares of NASDAQ:AAON opened at $85.23 on Thursday. AAON has a 1 year low of $73.19 and a 1 year high of $150.46. The company has a market capitalization of $7.03 billion, a PE ratio of 44.39, a price-to-earnings-growth ratio of 2.34 and a beta of 1.45. The business has a fifty day moving average price of $112.99 and a two-hundred day moving average price of $105.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results 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 17.86% and a net margin of 8.24%.The business's revenue for the quarter was up 101.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. Analysts forecast that AAON will post 2.3 earnings per share for the current year.

About AAON

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.

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