A. O. Smith (NYSE:AOS) PT Lowered to $58.00

A. O. Smith (NYSE:AOS) had its price objective decreased by DA Davidson to $58.00 in a research report sent to investors on Friday, June 7th, The Fly reports. DA Davidson currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for A. O. Smith’s Q2 2019 earnings at $0.63 EPS, FY2019 earnings at $2.60 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.71 EPS and FY2020 earnings at $2.85 EPS.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded A. O. Smith from a sell rating to a hold rating in a research note on Friday, February 22nd. ValuEngine upgraded A. O. Smith from a sell rating to a hold rating in a research note on Monday, April 1st. Edward Jones downgraded A. O. Smith from a buy rating to a hold rating in a research report on Monday, May 20th. Boenning Scattergood downgraded A. O. Smith from an outperform rating to a neutral rating and set a $52.98 target price on the stock. in a research report on Wednesday, May 1st. Finally, Robert W. Baird boosted their target price on A. O. Smith from $56.00 to $62.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. A. O. Smith presently has a consensus rating of Hold and a consensus target price of $56.11.

AOS traded down $0.23 during trading on Friday, hitting $46.93. 1,596,400 shares of the stock were exchanged, compared to its average volume of 1,777,608. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 2.01 and a beta of 1.56. A. O. Smith has a 1-year low of $40.34 and a 1-year high of $61.44. The company’s fifty day simple moving average is $44.77. The company has a quick ratio of 1.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.18.

A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.04). The company had revenue of $748.20 million during the quarter, compared to analyst estimates of $764.16 million. A. O. Smith had a net margin of 13.81% and a return on equity of 25.01%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. On average, analysts forecast that A. O. Smith will post 2.69 EPS for the current fiscal year.

A. O. Smith declared that its board has approved a stock buyback plan on Monday, June 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $49.50, for a total transaction of $49,500.00. Following the completion of the sale, the director now directly owns 182,266 shares in the company, valued at $9,022,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul R. Dana sold 9,010 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $52.76, for a total value of $475,367.60. Following the sale, the vice president now owns 14,912 shares of the company’s stock, valued at $786,757.12. The disclosure for this sale can be found here. Insiders sold 18,010 shares of company stock valued at $944,468 over the last quarter. Insiders own 1.03% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AOS. Bremer Bank National Association bought a new position in A. O. Smith during the 1st quarter worth approximately $25,000. Bremer Trust National Association bought a new position in A. O. Smith during the 4th quarter worth approximately $26,000. Huntington National Bank lifted its holdings in A. O. Smith by 82.2% during the 1st quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock worth $27,000 after buying an additional 231 shares during the last quarter. Penserra Capital Management LLC bought a new position in A. O. Smith during the 1st quarter worth approximately $29,000. Finally, Signaturefd LLC lifted its holdings in A. O. Smith by 67.6% during the 1st quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock worth $29,000 after buying an additional 217 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

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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