William Blair Issues Negative Estimate for AAON Earnings

AAON, Inc. (NASDAQ:AAON) – Investment analysts at William Blair dropped their Q3 2025 earnings per share estimates for AAON in a report released on Monday, August 11th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $0.34 per share for the quarter, down from their previous forecast of $0.66. The consensus estimate for AAON’s current full-year earnings is $2.26 per share. William Blair also issued estimates for AAON’s FY2025 earnings at $1.38 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.43 EPS, Q3 2026 earnings at $0.51 EPS and Q4 2026 earnings at $0.73 EPS.

AAON (NASDAQ:AAON) last announced its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%. The firm had revenue of $311.57 million for the quarter, compared to the consensus estimate of $326.15 million. During the same period in the previous year, the firm earned $0.62 EPS. AAON’s revenue for the quarter was down .6% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Robert W. Baird dropped their target price on AAON from $102.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday. DA Davidson dropped their target price on AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AAON has an average rating of “Buy” and an average target price of $102.00.

AAON Price Performance

Shares of NASDAQ:AAON opened at $88.29 on Wednesday. AAON has a 12 month low of $62.00 and a 12 month high of $144.07. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 60.06 and a beta of 0.94. The stock’s 50 day moving average price is $78.12 and its 200 day moving average price is $88.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.80.

Insider Activity

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director owned 8,754 shares of the company’s stock, valued at approximately $914,617.92. This represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AAON by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company’s stock valued at $509,111,000 after buying an additional 276,722 shares in the last quarter. Blair William & Co. IL raised its stake in AAON by 4.7% during the 2nd quarter. Blair William & Co. IL now owns 2,280,070 shares of the construction company’s stock valued at $168,155,000 after purchasing an additional 102,382 shares during the period. Geneva Capital Management LLC raised its stake in AAON by 7.3% during the 2nd quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company’s stock valued at $150,210,000 after purchasing an additional 139,024 shares during the period. Dimensional Fund Advisors LP raised its stake in AAON by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company’s stock valued at $109,598,000 after purchasing an additional 66,536 shares during the period. Finally, Geode Capital Management LLC raised its stake in AAON by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,341,376 shares of the construction company’s stock valued at $98,941,000 after purchasing an additional 26,302 shares during the period. Institutional investors own 70.81% of the company’s stock.

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.