DA Davidson Reaffirms “Buy” Rating for AAON (NASDAQ:AAON)

AAON (NASDAQ:AAON)‘s stock had its “buy” rating reaffirmed by DA Davidson in a report issued on Tuesday,Benzinga reports. They currently have a $120.00 price target on the construction company’s stock. DA Davidson’s price target would suggest a potential upside of 30.22% from the company’s current price.

A number of other equities research analysts have also weighed in on AAON. Oppenheimer reaffirmed an “outperform” rating and set a $115.00 price target on shares of AAON in a report on Friday, November 7th. Wall Street Zen lowered AAON from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. William Blair restated an “outperform” rating on shares of AAON in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.60.

AAON Stock Performance

Shares of AAON stock traded up $2.08 on Tuesday, reaching $92.16. 291,009 shares of the stock were exchanged, compared to its average volume of 978,603. The business has a fifty day moving average price of $84.80 and a two-hundred day moving average price of $88.16. The firm has a market capitalization of $7.52 billion, a PE ratio of 76.16 and a beta of 1.11. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. AAON has a 1-year low of $62.00 and a 1-year high of $117.73.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, November 6th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $384.24 million for the quarter, compared to the consensus estimate of $337.20 million. AAON had a return on equity of 12.52% and a net margin of 7.62%.AAON’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, research analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AAON news, EVP Stephen E. Wakefield bought 4,141 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were bought at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the acquisition, the executive vice president directly owned 15,212 shares of the company’s stock, valued at approximately $1,180,299.08. This trade represents a 37.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary D. Fields sold 26,746 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $105.21, for a total transaction of $2,813,946.66. Following the completion of the sale, the director owned 26,340 shares of the company’s stock, valued at approximately $2,771,231.40. The trade was a 50.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Hedge funds and other institutional investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC acquired a new stake in AAON in the third quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after acquiring an additional 164 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of AAON during the 2nd quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in AAON by 59.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock worth $34,000 after acquiring an additional 141 shares during the last quarter. Finally, Danske Bank A S bought a new stake in AAON during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Company Profile

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.