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

AAON (NASDAQ:AAON)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $120.00 price objective on the construction company’s stock. DA Davidson’s price target would suggest a potential upside of 26.00% from the stock’s previous close.

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

AAON Stock Performance

NASDAQ:AAON opened at $95.24 on Tuesday. The firm’s 50-day moving average is $84.82 and its 200-day moving average is $88.31. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 78.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.03 and a current ratio of 3.04. AAON has a 52-week low of $62.00 and a 52-week high of $117.73.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, November 6th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The business 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%.The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. Equities research analysts anticipate that AAON will post 2.26 earnings per share for the current year.

Insider Buying and Selling

In other AAON news, EVP Stephen E. Wakefield acquired 4,141 shares of the business’s stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the transaction, the executive vice president owned 15,212 shares in the company, valued at $1,180,299.08. This trade represents a 37.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary D. Fields sold 26,746 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $105.21, for a total value of $2,813,946.66. Following the completion of the transaction, the director directly owned 26,340 shares in the company, valued at approximately $2,771,231.40. This represents a 50.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in AAON by 429.3% during the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after acquiring an additional 65,813 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of AAON by 1.8% during the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after purchasing an additional 73,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AAON by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after purchasing an additional 12,489 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in AAON by 33.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 20,050 shares of the construction company’s stock worth $1,479,000 after purchasing an additional 5,000 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

About AAON

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.