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

AAON (NASDAQ:AAON)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $120.00 target price on the construction company’s stock. DA Davidson’s price objective points to a potential upside of 30.22% from the stock’s current price.

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

AAON Trading Up 2.3%

Shares of AAON stock traded up $2.08 during trading hours on Tuesday, hitting $92.16. 291,009 shares of the company’s stock traded hands, compared to its average volume of 978,603. The stock has a market cap of $7.52 billion, a PE ratio of 76.16 and a beta of 1.11. AAON has a 12 month low of $62.00 and a 12 month high of $117.73. The stock’s 50 day simple moving average is $84.80 and its 200 day simple moving average is $88.16. The company has a quick ratio of 2.03, a current ratio of 3.04 and a debt-to-equity ratio of 0.42.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, November 6th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. AAON had a net margin of 7.62% and a return on equity of 12.52%. The business had revenue of $384.24 million during the quarter, compared to the consensus estimate of $337.20 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AAON will post 2.26 EPS for the current year.

Insider Activity at AAON

In other AAON news, EVP Stephen E. Wakefield bought 4,141 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $77.59 per share, with a total value of $321,300.19. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary D. Fields sold 3,553 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $105.14, for a total transaction of $373,562.42. Following the sale, the director directly owned 26,340 shares in the company, valued at approximately $2,769,387.60. The trade was a 11.89% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AAON. EverSource Wealth Advisors LLC raised its stake in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AAON during the second quarter worth $26,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of AAON in the 3rd quarter valued at $26,000. Jones Financial Companies Lllp increased its holdings in shares of AAON by 59.5% in the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock valued at $34,000 after purchasing an additional 141 shares during the period. Finally, Danske Bank A S acquired a new position in AAON in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.