AAON (NASDAQ:AAON) Earns Buy Rating from DA Davidson

AAON (NASDAQ:AAON)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $110.00 price objective on the construction company’s stock. DA Davidson’s price objective points to a potential upside of 45.15% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. KeyCorp reissued a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Robert W. Baird reduced their price target on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Zacks Research lowered AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Finally, Oppenheimer reduced their target price on AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

AAON Price Performance

Shares of NASDAQ AAON opened at $75.78 on Tuesday. The firm has a market cap of $6.25 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41. The business’s 50 day moving average is $90.78 and its 200-day moving average is $102.84. The company has a current ratio of 3.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.43. AAON has a 1-year low of $73.19 and a 1-year high of $150.46.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business had revenue of $626.98 million during the quarter, compared to the consensus estimate of $508.82 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 101.2% on a year-over-year basis. Equities research analysts predict that AAON will post 2.21 earnings per share for the current year.

Insider Activity

In other news, EVP Matthew Shaub purchased 457 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the transaction, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 18.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On AAON

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in shares of AAON by 12,636.0% during the second quarter. California State Teachers Retirement System now owns 10,244,326 shares of the construction company’s stock worth $1,299,595,000 after acquiring an additional 10,163,890 shares in the last quarter. Wasatch Advisors LP boosted its stake in AAON by 3.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock valued at $296,664,000 after purchasing an additional 70,399 shares during the last quarter. First Trust Advisors LP increased its holdings in AAON by 22.1% during the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock worth $166,594,000 after purchasing an additional 364,101 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AAON by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,381,303 shares of the construction company’s stock worth $105,343,000 after purchasing an additional 20,588 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of AAON by 8,956.4% during the fourth quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock valued at $93,231,000 after buying an additional 1,209,205 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.

Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.