A. O. Smith (NYSE:AOS) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Thursday, TheStreetRatingsTable reports.
Several other brokerages also recently issued reports on AOS. Boenning Scattergood upgraded shares of A. O. Smith from a “neutral” rating to an “outperform” rating in a report on Wednesday, May 6th. Cfra decreased their price objective on A. O. Smith from $39.00 to $32.00 and set a “strong sell” rating for the company in a report on Wednesday, May 6th. Stifel Nicolaus began coverage on A. O. Smith in a report on Thursday, April 2nd. They issued a “buy” rating and a $45.00 price objective for the company. Robert W. Baird increased their price objective on A. O. Smith from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, June 17th. Finally, Oppenheimer restated a “hold” rating on shares of A. O. Smith in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.00.
Shares of NYSE:AOS traded down $0.32 during trading on Thursday, hitting $48.14. 2,758,750 shares of the company were exchanged, compared to its average volume of 977,544. The business’s 50 day moving average is $48.34 and its 200-day moving average is $43.93. The company has a market capitalization of $7.81 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.37 and a beta of 1.28. The company has a quick ratio of 1.62, a current ratio of 1.96 and a debt-to-equity ratio of 0.19. A. O. Smith has a 1-year low of $33.81 and a 1-year high of $53.72.
In other news, Director Ajita G. Rajendra sold 46,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $49.54, for a total transaction of $2,278,840.00. Following the transaction, the director now owns 135,147 shares of the company’s stock, valued at approximately $6,695,182.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AOS. BlackRock Inc. lifted its stake in shares of A. O. Smith by 6.2% in the first quarter. BlackRock Inc. now owns 12,374,572 shares of the industrial products company’s stock worth $467,886,000 after buying an additional 718,079 shares in the last quarter. State Street Corp lifted its position in A. O. Smith by 4.9% during the first quarter. State Street Corp now owns 9,733,848 shares of the industrial products company’s stock valued at $368,037,000 after purchasing an additional 457,841 shares during the last quarter. Morgan Stanley lifted its position in A. O. Smith by 350.4% during the first quarter. Morgan Stanley now owns 2,532,538 shares of the industrial products company’s stock valued at $95,755,000 after purchasing an additional 1,970,284 shares during the last quarter. Waddell & Reed Financial Inc. lifted its holdings in shares of A. O. Smith by 6.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 2,412,960 shares of the industrial products company’s stock worth $91,234,000 after acquiring an additional 144,230 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of A. O. Smith by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 2,366,845 shares of the industrial products company’s stock worth $89,334,000 after acquiring an additional 41,427 shares during the last quarter. 80.17% of the stock is currently 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.
Further Reading: What is a price target?
Receive News & Ratings for A. O. Smith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A. O. Smith and related companies with MarketBeat.com's FREE daily email newsletter.