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Top Summer Stocks: IMAX, Callaway, Aaon

BOSTON ( TheStreet) -- Summer is expected to bring unusually hot weather to southern states, according to the Climate Prediction Center. Here are some stocks that could benefit.

3. Aaon (AAON - Get Report) makes air conditioning equipment. If summer temperatures rise, as expected in the South, this Tulsa, Okla.-based company will benefit. TheStreet rates it "buy."

Quarter: First-quarter profit decreased 24% to $5.1 million, or 30 cents a share, as revenue dropped 23% to $49 million. The operating margin inched up from 16% to 17%. Aaon has $25 million of cash, converting to a quick ratio of 1.8, and no debt.

Stock: Aaon has advanced 15% during the past year, underperforming U.S. stock-market indices. It trades at a price-to-projected-earnings ratio of 14, a 56% discount to its peer average. The shares are expensive based on book value and sales.

Consensus: Of analysts covering Aaon, two, or 67%, advise purchasing its shares and one recommends holding them. Sidoti & Co. believes Aaon is fairly valued at $24 a share. Since 2007, Aaon has delivered annualized gains of 8%, beating indices.
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