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

AAON (NASDAQ:AAON) had its price objective decreased by analysts at Robert W. Baird from $155.00 to $116.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s target price suggests a potential upside of 53.93% from the company’s current price.

Several other brokerages have also recently weighed in on AAON. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Friday. DA Davidson upped their price target on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.75.

AAON Price Performance

Shares of AAON stock opened at $75.36 on Friday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 32.30 and a beta of 0.87. The business’s fifty day moving average is $118.52 and its 200 day moving average is $114.31. AAON has a twelve month low of $70.28 and a twelve month high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

Insider Activity

In other news, VP Stephen E. Wakefield sold 5,362 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the transaction, the vice president now directly owns 4,558 shares of the company’s stock, valued at $597,052.42. This represents a 54.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $2,386,986. The trade was a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

A number of hedge funds have recently bought and sold shares of AAON. Vanguard Group Inc. increased its position in AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock valued at $734,262,000 after acquiring an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. increased its position in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in AAON by 1.9% during the third quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock valued at $229,180,000 after acquiring an additional 39,059 shares during the last quarter. Invesco Ltd. increased its position in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock valued at $239,184,000 after acquiring an additional 274,119 shares during the last quarter. Finally, State Street Corp increased its position in AAON by 0.6% during the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after acquiring an additional 12,502 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.