AAON (NASDAQ:AAON) Price Target Cut to $104.00 by Analysts at Robert W. Baird

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

AAON has been the topic of a number of other research reports. DA Davidson started coverage on AAON in a research note on Tuesday, September 15th. They set a “buy” rating and a $110.00 price objective on the stock. KeyCorp reissued a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Oppenheimer restated 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.67.

AAON Trading Up 9.9%

AAON stock opened at $62.87 on Tuesday. The firm has a 50-day moving average of $76.73 and a 200-day moving average of $96.81. AAON has a one year low of $53.13 and a one year high of $150.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.08 and a beta of 1.45.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Monday, November 9th. The construction company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. AAON had a return on equity of 17.32% and a net margin of 8.24%. The company had revenue of $707.43 million during the quarter, compared to analysts’ expectations of $601.19 million. During the same quarter last year, the company earned $0.37 EPS. AAON’s revenue for the quarter was up 84.1% compared to the same quarter last year. On average, equities analysts expect that AAON will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AAON news, Director David Stewart purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $298,640. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Matthew Shaub purchased 457 shares of the business’s stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $76.42 per share, with a total value of $34,923.94. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 18.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AAON

A number of hedge funds have recently bought and sold shares of AAON. Wasatch Advisors LP grew its holdings in shares of AAON by 3.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock worth $296,664,000 after purchasing an additional 70,399 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in AAON in the second quarter valued at about $2,061,000. Empowered Funds LLC acquired a new position in AAON in the first quarter valued at about $1,312,000. Fort Washington Investment Advisors Inc. OH acquired a new position in AAON in the third quarter valued at about $15,090,000. Finally, Public Employees Retirement System of Ohio acquired a new position in AAON in the second quarter valued at about $2,505,000. 70.81% of the stock is owned by institutional investors.

AAON News Summary

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.