Robert W. Baird Issues Positive Forecast for AAON (NASDAQ:AAON) Stock Price

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

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and raised their price target for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Stock Up 16.1 %

Shares of NASDAQ AAON traded up $19.14 on Friday, reaching $138.24. 700,606 shares of the company’s stock traded hands, compared to its average volume of 604,454. AAON has a 12 month low of $57.19 and a 12 month high of $139.63. The business’s 50 day simple moving average is $106.07 and its two-hundred day simple moving average is $91.54. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 62.27 and a beta of 0.79. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. AAON had a net margin of 15.60% and a return on equity of 26.02%. The business had revenue of $327.25 million during the quarter, compared to the consensus estimate of $315.80 million. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that AAON will post 2.28 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, September 6th. AAON’s dividend payout ratio is presently 14.41%.

Institutional Inflows and Outflows

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