Oppenheimer Reiterates Outperform Rating for AAON (NASDAQ:AAON)

AAON (NASDAQ:AAON)‘s stock had its “outperform” rating reaffirmed by Oppenheimer in a report issued on Tuesday,Benzinga reports. They currently have a $105.00 price target on the construction company’s stock. Oppenheimer’s price target points to a potential upside of 13.03% from the company’s previous close.

Several other equities analysts also recently commented on the company. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Monday, June 16th. Wall Street Zen downgraded AAON from a “hold” rating to a “strong sell” rating in a report on Sunday, August 17th. DA Davidson lowered their price target on AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Robert W. Baird lowered their price target on AAON from $102.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $102.60.

AAON Trading Up 1.5%

NASDAQ:AAON opened at $92.89 on Tuesday. The stock’s 50 day moving average price is $83.35 and its 200 day moving average price is $84.19. AAON has a 52 week low of $62.00 and a 52 week high of $144.07. The company has a market capitalization of $7.57 billion, a P/E ratio of 63.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 EPS 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 during the quarter, compared to analyst estimates of $326.15 million. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts forecast that AAON will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling at AAON

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the transaction, the chief financial officer directly owned 24,396 shares in the company, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares of the company’s stock, valued at approximately $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Advisors boosted its holdings in AAON by 114.8% during the first quarter. PFG Advisors now owns 20,836 shares of the construction company’s stock worth $1,628,000 after buying an additional 11,136 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of AAON during the 4th quarter valued at about $210,000. Parallel Advisors LLC lifted its holdings in shares of AAON by 26.3% during the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock valued at $56,000 after purchasing an additional 149 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of AAON during the 1st quarter valued at about $789,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of AAON by 49.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company’s stock valued at $250,000 after purchasing an additional 1,054 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.