DA Davidson Has Lowered Expectations for AAON (NASDAQ:AAON) Stock Price

AAON (NASDAQ:AAON) had its price target cut by DA Davidson from $150.00 to $125.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also recently commented on AAON. Robert W. Baird reduced their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Performance

NASDAQ:AAON opened at $76.80 on Friday. The stock has a market cap of $6.24 billion, a P/E ratio of 33.83 and a beta of 0.87. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $117.63 and its 200-day moving average is $114.07. AAON has a 1-year low of $70.28 and a 1-year high of $144.07.

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 stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the transaction, the vice president now directly owns 4,558 shares in the company, valued at approximately $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 accessible 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 value of $690,000.00. Following the transaction, the chief financial officer now owns 17,297 shares in the company, valued at $2,386,986. The trade was a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Hedge Funds Weigh In On AAON

Institutional investors have recently modified their holdings of the company. Mather Group LLC. raised its position in shares of AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after purchasing an additional 193 shares during the period. Blue Trust Inc. raised its position in shares of AAON by 202.0% during the third quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after purchasing an additional 198 shares during the period. Twin Tree Management LP acquired a new position in shares of AAON during the fourth quarter worth approximately $33,000. Westside Investment Management Inc. acquired a new position in shares of AAON during the third quarter worth approximately $36,000. Finally, Quarry LP raised its position in shares of AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after purchasing an additional 103 shares during the period. 70.81% of the stock is 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.