AAON (NASDAQ:AAON – Get Free Report) had its price objective lowered by investment analysts at Robert W. Baird from $150.00 to $135.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective points to a potential upside of 51.28% from the company’s current price.
Several other equities research analysts have also commented on AAON. KeyCorp started coverage on AAON in a research note on Thursday, July 23rd. They set a “sector weight” rating on the stock. Zacks Research downgraded AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.
Read Our Latest Research Report on AAON
AAON Price Performance
AAON (NASDAQ:AAON – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. The business had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business’s revenue for the quarter was up 101.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 EPS. Analysts forecast that AAON will post 2.24 EPS for the current fiscal year.
Insider Transactions at AAON
In other news, Director Gary D. Fields sold 21,173 shares of AAON stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.34, for a total transaction of $2,971,418.82. Following the completion of the sale, the director directly owned 34,252 shares in the company, valued at $4,806,925.68. The trade was a 38.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca Thompson sold 4,230 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,637 shares of company stock worth $10,807,621 in the last ninety days. Company insiders own 18.09% of the company’s stock.
Institutional Trading of AAON
Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares during the period. Summit Securities Group LLC purchased a new stake in shares of AAON in the fourth quarter valued at $45,000. Danske Bank A S purchased a new stake in shares of AAON in the third quarter valued at $47,000. Huntington National Bank increased its stake in AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after purchasing an additional 120 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.
AAON News Roundup
Here are the key news stories impacting AAON this week:
- Positive Sentiment: Record Q2 performance: Net sales more than doubled year over year to $627.0 million, while operating income rose 192% to $68.9 million. Diluted EPS reached $0.68–$0.69, substantially exceeding analyst estimates near $0.51–$0.52. AAON Reports Record Second Quarter 2026 Results
- Positive Sentiment: Strong demand and backlog: Demand for AAON and BASX equipment, including data-center cooling systems, helped accelerate production and backlog conversion. Backlog remained near $2.0 billion, approximately 98% above the prior-year level. AAON Earnings and Data-Center Cooling Demand
- Positive Sentiment: Raised sales outlook: AAON now expects 2026 revenue growth of 55%–60%, supported by expanded capacity, improving throughput and its substantial backlog. First-half operating cash flow improved to $55 million from a $31 million use of cash in the prior-year period. AAON Reports Record Q2 Sales and Raises Outlook
- Neutral Sentiment: Execution remains central: Management highlighted improving factory throughput and operating leverage, but investors are focused on whether rapid capacity expansion can produce sustained profitability as demand continues to surge. AAON Q2 2026 Earnings Call Transcript
- Negative Sentiment: Lower margin outlook: Full-year gross-margin guidance was reduced to approximately 25%–26%, below the previous outlook of roughly 27%–28%. The cut suggests that ramp-up expenses, outsourcing and other production costs may persist despite strong revenue growth. AAON Reports Strong Q2 Results but Lowers Margin Guidance
- Negative Sentiment: High expectations and insider selling: With AAON trading at a high earnings multiple, investors appear to be taking profits and demanding cleaner margin expansion. Recent disclosures also show 17 open-market insider sales and no purchases over six months, adding a cautionary signal.
About AAON
AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.
AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.
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