AAON's (AAON) Outperform Rating Reiterated at Oppenheimer

Key Points

• Oppenheimer has reiterated its "outperform" rating for AAON, with a target price of $105.00, indicating a potential upside of 13.03% from the current stock price.
• Several analysts have varied ratings for AAON, with a mix of "buy," "strong buy," and "sell" recommendations, reflecting differing perspectives on the stock's future performance.
• AAON reported earnings of $0.22 per share, missing estimates and showing a 0.6% year-over-year decline in revenue, which may impact investor sentiment.

AAON (NASDAQ:AAON - Get Free Report)'s stock had its "outperform" rating restated by Oppenheimer in a research report issued on Tuesday,Benzinga reports. They presently have a $105.00 price target on the construction company's stock. Oppenheimer's price objective suggests a potential upside of 13.03% from the company's current price.

Several other analysts have also weighed in on AAON. Robert W. Baird lowered their target price on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research note on Monday, June 16th. DA Davidson lowered their target price on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $102.60.

AAON Trading Up 1.5%

NASDAQ AAON opened at $92.89 on Tuesday. The company's fifty day simple moving average is $83.35 and its 200-day simple moving average is $84.19. AAON has a 52 week low of $62.00 and a 52 week high of $144.07. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.57 billion, a P/E ratio of 63.41 and a beta of 1.00.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.09). The company had revenue of $311.57 million during the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Equities research analysts predict that AAON will post 2.26 EPS for the current fiscal year.

Insider Activity

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the sale, the insider directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This represents a 69.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares of the company's stock, valued at $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company's stock.

Institutional Trading of AAON

A number of hedge funds have recently bought and sold shares of AAON. Rakuten Securities Inc. lifted its stake in AAON by 613.3% during the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after buying an additional 276 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares in the last quarter. Versant Capital Management Inc lifted its stake in AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after buying an additional 287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AAON in the 2nd quarter valued at about $26,000. Finally, UMB Bank n.a. increased its holdings in shares of AAON by 81.2% in the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after purchasing an additional 264 shares during the period. 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.

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