AAON (NASDAQ:AAON) Stock Gets Price Target Trim from Robert W. Baird

AAON (NASDAQ:AAON) had its price target cut by research analysts at Robert W. Baird from $110.00 to $104.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird‘s price target indicates a potential upside of 65.42% from the company’s current price.

Several other brokerages have also issued reports on AAON. KeyCorp reissued a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Oppenheimer reiterated an “outperform” rating and set a $115.00 target price (down from $125.00) on shares of AAON in a report on Wednesday, October 14th. Finally, DA Davidson began coverage on AAON in a research note on Tuesday, September 15th. They issued a “buy” rating and a $110.00 target price for the company. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and an average price target of $109.67.

AAON Stock Up 9.9%

AAON stock opened at $62.87 on Tuesday. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.08 and a beta of 1.45. The company’s 50 day simple moving average is $76.73 and its 200 day simple moving average is $96.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON has a fifty-two week low of $53.13 and a fifty-two week high of $150.46.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, November 9th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. The firm had revenue of $707.43 million during the quarter, compared to the consensus estimate of $601.19 million. AAON had a net margin of 8.24% and a return on equity of 17.32%. The business’s quarterly revenue was up 84.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, sell-side analysts anticipate that AAON will post 2.35 EPS for the current year.

Insider Activity at AAON

In related news, EVP Matthew Shaub acquired 457 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the acquisition, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. The trade was a 17.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Stewart acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average cost of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at $298,640. This represents a 33.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 18.09% of the stock is owned by corporate insiders.

Institutional Trading of AAON

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of AAON during the second quarter worth about $55,284,000. American Capital Management Inc. acquired a new stake in AAON in the 2nd quarter valued at approximately $47,595,000. First Trust Advisors LP raised its position in AAON by 22.1% in the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock valued at $166,594,000 after buying an additional 364,101 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in AAON by 38.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,220,470 shares of the construction company’s stock valued at $101,006,000 after acquiring an additional 336,730 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in AAON by 66.9% in the 3rd quarter. Royce & Associates LP now owns 642,995 shares of the construction company’s stock valued at $53,214,000 after acquiring an additional 257,797 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Trending Headlines about AAON

Here are the key news stories impacting AAON this week:

• Positive Sentiment: Third-quarter results beat expectations: revenue climbed 84.1% year over year to a record $707.4 million, versus estimates of about $601 million, while EPS of $0.83 topped the $0.57 consensus and more than doubled from $0.37 a year earlier. AAON third-quarter results and outlook
• Positive Sentiment: AAON raised its 2026 sales-growth outlook to 72%–75%, with revenue guidance of roughly $2.5 billion versus analysts’ estimate of about $2.3 billion. The company cited strong execution; its backlog grew 40.5% to $1.9 billion, supporting visibility into demand. AAON reports record revenue and raises outlook
• Positive Sentiment: The board declared a regular quarterly dividend of $0.10 per share, payable December 17 to shareholders of record November 25. AAON quarterly cash dividend
• Negative Sentiment: The company restated its first- and second-quarter 2026 financial statements after finding errors involving revenue recognition and software subscriptions. AAON also disclosed a material weakness in internal controls and said remediation efforts are underway, raising concerns about reporting reliability despite the strong quarter. AAON third-quarter results and restatement

About AAON

AAON, Inc designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands.

Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services.

AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.