AAON (NASDAQ:AAON) Raised to “Outperform” at CJS Securities

AAON (NASDAQ:AAON) was upgraded by analysts at CJS Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $110.00 target price on the construction company’s stock. CJS Securities’ price target indicates a potential upside of 38.86% from the stock’s previous close.

AAON has been the topic of a number of other reports. DA Davidson increased their target price on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Robert W. Baird raised their price objective on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AAON presently has an average rating of “Moderate Buy” and an average price target of $127.25.

AAON Trading Down 22.4 %

NASDAQ AAON opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm’s fifty day moving average price is $118.52 and its 200 day moving average price is $114.31. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 34.90 and a beta of 0.87. AAON has a 12 month low of $70.28 and a 12 month high of $144.07.

Insiders Place Their Bets

In other news, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares of the company’s stock, valued at $597,052.42. This trade represents a 54.05 % decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by insiders.

Institutional Trading of AAON

Several hedge funds have recently made changes to their positions in AAON. Norges Bank acquired a new stake in shares of AAON in the fourth quarter valued at about $76,581,000. Raymond James Financial Inc. acquired a new stake in shares of AAON in the fourth quarter valued at about $73,313,000. Wasatch Advisors LP lifted its stake in shares of AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after purchasing an additional 525,132 shares during the period. First Trust Advisors LP lifted its stake in shares of AAON by 85.6% in the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock valued at $125,813,000 after purchasing an additional 493,219 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of AAON in the fourth quarter valued at about $42,449,000. Institutional investors and hedge funds 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.