Oppenheimer Forecasts Strong Price Appreciation for AAON (NASDAQ:AAON) Stock

Key Points

• Oppenheimer raised its target price for AAON stock from $105.00 to $112.00, suggesting a potential upside of 7.89% from its previous close.
• Multiple analysts have varying ratings on AAON, with one Strong Buy, five Buy ratings, and a Hold rating, resulting in an average of "Buy" with a consensus target price of $104.00.
• AAON shares recently traded at $103.81, with a 12-month high of $144.07 and a low of $62.00, indicating notable stock price fluctuations.

AAON (NASDAQ:AAON - Get Free Report) had its target price raised by research analysts at Oppenheimer from $105.00 to $112.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the construction company's stock. Oppenheimer's price objective indicates a potential upside of 7.89% from the company's previous close.

Other analysts have also recently issued reports about the company. DA Davidson dropped their price objective on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. Robert W. Baird reduced their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Finally, Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, AAON currently has an average rating of "Buy" and a consensus target price of $104.00.

AAON Price Performance

Shares of NASDAQ:AAON traded up $1.85 on Tuesday, hitting $103.81. The stock had a trading volume of 69,785 shares, compared to its average volume of 1,017,099. AAON has a twelve month low of $62.00 and a twelve month high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The firm's 50 day moving average price is $87.15 and its 200-day moving average price is $85.50. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 70.62 and a beta of 1.05.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company had revenue of $322.05 million for the quarter. On average, equities research analysts predict that AAON will post 2.26 earnings per share for the current year.

Insider Buying and Selling at AAON

In other news, insider Christopher Douglas Eason sold 12,003 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer directly owned 24,396 shares in the company, valued at approximately $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is owned by company insiders.

Institutional Trading of AAON

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in AAON by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company's stock valued at $509,111,000 after buying an additional 276,722 shares in the last quarter. Blair William & Co. IL boosted its stake in AAON by 4.7% in the second quarter. Blair William & Co. IL now owns 2,280,070 shares of the construction company's stock valued at $168,155,000 after buying an additional 102,382 shares in the last quarter. Geneva Capital Management LLC boosted its stake in AAON by 7.3% in the second quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company's stock valued at $150,210,000 after buying an additional 139,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AAON by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock valued at $109,598,000 after purchasing an additional 66,536 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of AAON by 2.0% during the second quarter. Geode Capital Management LLC now owns 1,341,376 shares of the construction company's stock valued at $98,941,000 after purchasing an additional 26,302 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

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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