CJS Securities Upgrades AAON (NASDAQ:AAON) to Outperform

AAON (NASDAQ:AAON) was upgraded by CJS Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $110.00 price objective on the construction company’s stock. CJS Securities’ price objective would indicate a potential upside of 38.86% from the company’s current price.

Other equities analysts have also issued reports about the stock. Robert W. Baird upped their price objective on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson upped their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.25.

AAON Stock Performance

AAON stock opened at $79.22 on Friday. The firm has a 50 day simple moving average of $118.52 and a 200-day simple moving average of $114.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON has a 1-year low of $70.28 and a 1-year high of $144.07. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 34.90 and a beta of 0.87.

Insiders Place Their Bets

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

Institutional Investors Weigh In On AAON

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of AAON by 5,040.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after purchasing an additional 2,369 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock valued at $2,903,000 after purchasing an additional 21,548 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock valued at $31,121,000 after purchasing an additional 81,111 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of AAON in the 3rd quarter valued at $471,000. Finally, Caldwell Investment Management Ltd. acquired a new stake in shares of AAON in the 4th quarter valued at $1,099,000. 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.