Oppenheimer Reaffirms “Hold” Rating for A. O. Smith (NYSE:AOS)

Oppenheimer reaffirmed their hold rating on shares of A. O. Smith (NYSE:AOS) in a research note issued to investors on Thursday morning, AnalystRatings.com reports.

A number of other research firms also recently issued reports on AOS. Zacks Investment Research upgraded shares of A. O. Smith from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Tuesday, July 7th. Cfra dropped their price objective on shares of A. O. Smith from $39.00 to $32.00 and set a strong sell rating on the stock in a research note on Wednesday, May 6th. UBS Group initiated coverage on shares of A. O. Smith in a research note on Friday, May 29th. They set a buy rating and a $54.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of A. O. Smith in a research report on Thursday, April 2nd. They set a buy rating and a $45.00 target price for the company. Finally, Boenning Scattergood raised shares of A. O. Smith from a neutral rating to an outperform rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $45.00.

NYSE AOS opened at $48.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 1.96. The firm’s 50 day moving average price is $48.34 and its 200-day moving average price is $43.93. A. O. Smith has a 52-week low of $33.81 and a 52-week high of $53.72. The company has a market cap of $7.76 billion, a PE ratio of 26.31, a P/E/G ratio of 3.34 and a beta of 1.28.

A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. A. O. Smith had a net margin of 10.72% and a return on equity of 18.38%. The firm had revenue of $663.90 million for the quarter, compared to the consensus estimate of $664.82 million. On average, analysts forecast that A. O. Smith will post 1.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be issued a $0.24 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.99%. A. O. Smith’s dividend payout ratio is currently 43.24%.

In other A. O. Smith news, Director Ajita G. Rajendra sold 46,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $49.54, for a total value of $2,278,840.00. Following the completion of the transaction, the director now owns 135,147 shares of the company’s stock, valued at $6,695,182.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AOS. FMR LLC lifted its position in A. O. Smith by 51.9% during the first quarter. FMR LLC now owns 813,266 shares of the industrial products company’s stock valued at $43,364,000 after purchasing an additional 277,862 shares during the period. Guggenheim Capital LLC lifted its position in A. O. Smith by 97.0% during the fourth quarter. Guggenheim Capital LLC now owns 153,611 shares of the industrial products company’s stock valued at $7,318,000 after purchasing an additional 75,650 shares during the period. First Republic Investment Management Inc. lifted its position in A. O. Smith by 11.3% during the fourth quarter. First Republic Investment Management Inc. now owns 6,108 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 621 shares during the period. Geode Capital Management LLC lifted its position in A. O. Smith by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 2,325,418 shares of the industrial products company’s stock valued at $110,573,000 after purchasing an additional 67,970 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in A. O. Smith during the fourth quarter valued at $5,487,000. 80.17% of the stock is owned by institutional investors and hedge funds.

A. O. Smith Company Profile

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for A. O. Smith (NYSE:AOS)

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