Robert W. Baird Cuts AAON (NASDAQ:AAON) Price Target to $135.00

AAON (NASDAQ:AAON) had its price objective trimmed by Robert W. Baird from $150.00 to $135.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

AAON has been the topic of several other research reports. Oppenheimer reiterated an “outperform” rating on shares of AAON in a report on Friday, May 8th. Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. KeyCorp assumed coverage on shares of AAON in a research report on Thursday, July 23rd. They set a “sector weight” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.67.

AAON Price Performance

NASDAQ:AAON opened at $87.67 on Tuesday. AAON has a one year low of $73.19 and a one year high of $150.46. The stock has a market cap of $7.23 billion, a PE ratio of 45.66, a P/E/G ratio of 1.61 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The stock has a 50 day moving average price of $111.87 and a 200 day moving average price of $105.71.

AAON (NASDAQ:AAON) last released its quarterly earnings data 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 company had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. AAON had a return on equity of 17.86% and a net margin of 8.24%.The firm’s revenue for the quarter was up 101.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities research analysts expect that AAON will post 2.3 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON’s dividend payout ratio (DPR) is 20.83%.

Insider Activity at AAON

In other news, Director Gary D. Fields sold 19,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the completion of the transaction, the director directly owned 15,252 shares in the company, valued at $2,138,330.40. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Thompson sold 4,230 shares of AAON stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total value of $606,666.60. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 47,403 shares of company stock worth $6,663,055. Insiders own 18.09% of the company’s stock.

Hedge Funds Weigh In On AAON

Several institutional investors have recently bought and sold shares of the company. Comerica Bank grew its holdings in AAON by 23.7% during the 4th quarter. Comerica Bank now owns 238,462 shares of the construction company’s stock worth $18,183,000 after acquiring an additional 45,660 shares in the last quarter. Royce & Associates LP lifted its position in shares of AAON by 9.6% during the 4th quarter. Royce & Associates LP now owns 467,496 shares of the construction company’s stock worth $35,647,000 after purchasing an additional 40,892 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of AAON by 9.9% during the fourth quarter. Stephens Investment Management Group LLC now owns 636,296 shares of the construction company’s stock worth $48,518,000 after purchasing an additional 57,281 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in AAON by 5.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock valued at $135,421,000 after buying an additional 84,693 shares during the last quarter. Finally, Madison Asset Management LLC acquired a new stake in AAON in the fourth quarter valued at $1,629,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting AAON

Here are the key news stories impacting AAON this week:

• Positive Sentiment: Strong Q2 performance: AAON reported earnings of $0.69 per share, well above the $0.51 consensus estimate, while revenue surged 101.2% year over year to approximately $627 million, exceeding expectations of $509 million. AAON, Inc. Q2 2026 Earnings Call Summary
• Positive Sentiment: Robust growth outlook: Management forecasts 2026 sales growth of 55% to 60% and is targeting a 25% to 26% gross margin. Expected acceleration in BASX orders and margin-expansion initiatives are supporting the bullish outlook. AAON forecasts 2026 sales growth
• Positive Sentiment: Analyst support: William Blair reiterated a Buy rating, citing expected BASX order acceleration and potential margin expansion. The continued bullish stance may be helping sentiment. Analyst reiterates Buy on AAON
• Positive Sentiment: Quarterly dividend declared: AAON’s board approved a $0.10-per-share dividend, or $0.40 annually, payable September 25 to shareholders of record September 4. While the roughly 0.5% yield is modest, the payment reinforces shareholder returns. AAON Announces Quarterly Cash Dividend
• Neutral Sentiment: Brokerages collectively rate AAON a “Moderate Buy,” but analyst opinions remain mixed, suggesting expectations are positive but not unanimous.
• Negative Sentiment: Robert W. Baird issued a pessimistic forecast for AAON, creating a counterweight to the Buy reiteration and highlighting valuation or execution concerns.

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.