Robert W. Baird Has Lowered Expectations for AAON (NASDAQ:AAON) Stock Price

Key Points

• Analysts at Robert W. Baird have reduced their price target for AAON stock from $102.00 to $98.00, maintaining a "buy" rating, which indicates a potential upside of 35.98% from current levels.
• AAON's stock price is currently down approximately 10.5% and opened at $72.07, with a market cap of $5.86 billion.
• The company recently reported earnings per share (EPS) of $0.22 for the quarter, missing estimates and seeing a revenue decline of 0.6% compared to the same quarter last year.

AAON (NASDAQ:AAON - Get Free Report) had its price objective lowered by analysts at Robert W. Baird from $102.00 to $98.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Robert W. Baird's target price points to a potential upside of 23.19% from the company's previous close.

A number of other equities research analysts have also recently issued reports on AAON. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research note on Monday, June 16th. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $102.00.

AAON Price Performance

Shares of AAON stock traded down $3.56 during trading hours on Tuesday, reaching $79.55. 1,315,222 shares of the company's stock were exchanged, compared to its average volume of 1,701,280. The business has a fifty day moving average of $77.55 and a two-hundred day moving average of $87.58. The company has a quick ratio of 1.80, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.49 billion, a P/E ratio of 54.12 and a beta of 0.94. AAON has a 1 year low of $62.00 and a 1 year high of $144.07.

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

Insider Activity

In other news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director owned 8,754 shares in the company, valued at approximately $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.70% of the company's stock.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently modified their holdings of the company. Champlain Investment Partners LLC purchased a new stake in AAON in the 2nd quarter worth about $87,147,000. Blair William & Co. IL lifted its stake in shares of AAON by 86.2% during the first quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock worth $170,143,000 after buying an additional 1,007,906 shares during the period. Norges Bank acquired a new position in AAON during the second quarter valued at $51,441,000. Mawer Investment Management Ltd. acquired a new position in shares of AAON in the first quarter worth about $44,219,000. Finally, Brown Advisory Inc. acquired a new position in shares of AAON in the first quarter worth about $41,180,000. 70.81% of the stock is owned by institutional investors.

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.