William Blair Weighs in on AAON’s Q3 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Equities researchers at William Blair reduced their Q3 2025 earnings per share (EPS) estimates for shares of AAON in a note issued to investors on Friday, February 28th. William Blair analyst R. Merkel now expects that the construction company will earn $0.77 per share for the quarter, down from their prior estimate of $0.92. The consensus estimate for AAON’s current full-year earnings is $2.26 per share. William Blair also issued estimates for AAON’s Q4 2025 earnings at $0.73 EPS.

Other analysts have also recently issued reports about the company. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research report on Friday. Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday. DA Davidson lowered their target price on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday. Finally, 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 research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

AAON Stock Down 4.3 %

Shares of AAON stock opened at $73.51 on Monday. 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 business’s 50 day simple moving average is $116.69 and its 200-day simple moving average is $114.37. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 32.38 and a beta of 0.87. AAON has a twelve month low of $70.28 and a twelve month high of $144.07.

Insider Buying and Selling at AAON

In other news, 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AAON

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock worth $734,262,000 after acquiring an additional 75,832 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after purchasing an additional 150,207 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of AAON by 15.6% in the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock valued at $239,184,000 after purchasing an additional 274,119 shares in the last quarter. State Street Corp lifted its holdings in shares of AAON by 0.6% in the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after purchasing an additional 12,502 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings 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 in the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Company Profile

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.