A. O. Smith (NYSE:AOS) was downgraded by stock analysts at Boenning Scattergood from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $52.98 price target on the industrial products company’s stock. Boenning Scattergood’s price objective points to a potential upside of 0.88% from the company’s current price. Boenning Scattergood also issued estimates for A. O. Smith’s Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.84 EPS, Q3 2020 earnings at $0.75 EPS and FY2020 earnings at $2.90 EPS.
Several other brokerages also recently weighed in on AOS. Robert W. Baird raised their target price on A. O. Smith from $56.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. KeyCorp raised their target price on A. O. Smith from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, March 12th. BMO Capital Markets downgraded A. O. Smith from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research note on Wednesday, January 30th. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Oppenheimer restated a “hold” rating on shares of A. O. Smith in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $58.12.
Shares of A. O. Smith stock opened at $52.52 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.25 and a quick ratio of 1.70. The stock has a market cap of $8.93 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.35. A. O. Smith has a 1-year low of $40.34 and a 1-year high of $65.57.
In other news, Director Paul W. Jones sold 20,000 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $49.00, for a total transaction of $980,000.00. Following the transaction, the director now owns 180,967 shares of the company’s stock, valued at $8,867,383. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wallace E. Goodwin sold 13,200 shares of the stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $50.02, for a total transaction of $660,264.00. The disclosure for this sale can be found here. Insiders have sold 55,046 shares of company stock worth $2,774,614 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in A. O. Smith in the fourth quarter worth about $122,493,000. Two Sigma Investments LP lifted its holdings in A. O. Smith by 432.1% in the fourth quarter. Two Sigma Investments LP now owns 2,075,448 shares of the industrial products company’s stock worth $88,622,000 after acquiring an additional 1,685,430 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in A. O. Smith by 676.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,910,897 shares of the industrial products company’s stock worth $81,595,000 after acquiring an additional 1,664,800 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in A. O. Smith by 51.1% in the fourth quarter. Impax Asset Management Group plc now owns 4,283,691 shares of the industrial products company’s stock worth $182,914,000 after acquiring an additional 1,448,313 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in A. O. Smith by 285.2% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,925,958 shares of the industrial products company’s stock worth $82,239,000 after acquiring an additional 1,426,033 shares during the last quarter. 77.13% of the stock is currently owned by institutional investors and hedge funds.
About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.
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