Robert W. Baird Forecasts Strong Price Appreciation for AAON (NASDAQ:AAON) Stock

AAON (NASDAQ:AAON) had its price target boosted by Robert W. Baird from $130.00 to $138.00 in a research report released on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Sidoti cut AAON from a “buy” rating to a “neutral” rating and upped their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

AAON Stock Performance

Shares of AAON stock opened at $140.75 on Friday. AAON has a 12-month low of $57.56 and a 12-month high of $144.07. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 62.00 and a beta of 0.79. The stock has a 50 day simple moving average of $106.97 and a 200-day simple moving average of $91.93. The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. AAON had a return on equity of 25.34% and a net margin of 15.78%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts forecast that AAON will post 2.26 EPS for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, September 6th. AAON’s payout ratio is currently 14.10%.

Institutional Investors Weigh In On AAON

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of AAON by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after purchasing an additional 61,544 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of AAON by 99.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after purchasing an additional 8,613 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of AAON by 79.8% in the first quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock valued at $5,186,000 after purchasing an additional 26,141 shares during the last quarter. Lord Abbett & CO. LLC grew its position in AAON by 18.9% during the first quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock worth $52,226,000 after buying an additional 94,026 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in AAON by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 562,933 shares of the construction company’s stock worth $49,595,000 after buying an additional 6,766 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

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.