A.O. Smith Corp. (AOS) Reaches New 52-Week High at $89.05
A.O. Smith Corp. (NYSE:AOS)’s share price reached a new 52-week high on Friday . The company traded as high as $89.05 and last traded at $88.77, with a volume of 164,255 shares traded. The stock had previously closed at $87.48.
A number of equities analysts have weighed in on AOS shares. Zacks Investment Research downgraded shares of A.O. Smith Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Longbow Research started coverage on shares of A.O. Smith Corp. in a research note on Friday, June 17th. They set a “neutral” rating on the stock. KeyCorp reaffirmed an “overweight” rating and set a $88.00 price target on shares of A.O. Smith Corp. in a research note on Friday, April 8th. Sterne Agee CRT reaffirmed a “buy” rating on shares of A.O. Smith Corp. in a research note on Monday, May 16th. Finally, BMO Capital Markets started coverage on shares of A.O. Smith Corp. in a research note on Tuesday, April 5th. They set an “outperform” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $82.00.
The firm has a market capitalization of $7.81 billion and a P/E ratio of 26.69. The stock has a 50 day moving average of $83.97 and a 200-day moving average of $75.90.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The business earned $636.70 million during the quarter, compared to analyst estimates of $651.48 million. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities research analysts forecast that A.O. Smith Corp. will post $3.52 EPS for the current fiscal year.
In other news, CEO Ajita G. Rajendra sold 5,000 shares of A.O. Smith Corp. stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $83.70, for a total value of $418,500.00. Following the transaction, the chief executive officer now owns 145,185 shares of the company’s stock, valued at approximately $12,151,984.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ajita G. Rajendra sold 20,000 shares of A.O. Smith Corp. stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $82.74, for a total transaction of $1,654,800.00. Following the completion of the transaction, the chief executive officer now directly owns 150,185 shares in the company, valued at approximately $12,426,306.90. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in the company. CG Asset Management LLC acquired a new position in shares of A.O. Smith Corp. during the fourth quarter valued at about $1,349,000. Penserra Capital Management LLC purchased a new position in A.O. Smith Corp. during the fourth quarter valued at $1,859,000. Mastrapasqua Asset Management Inc. increased its position in A.O. Smith Corp. by 7.4% in the fourth quarter. Mastrapasqua Asset Management Inc. now owns 26,620 shares of the company’s stock valued at $2,039,000 after buying an additional 1,825 shares during the period. Redwood Investments LLC increased its position in A.O. Smith Corp. by 37.3% in the fourth quarter. Redwood Investments LLC now owns 28,376 shares of the company’s stock valued at $2,174,000 after buying an additional 7,715 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its position in A.O. Smith Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 48,816 shares of the company’s stock valued at $3,740,000 after buying an additional 16,564 shares during the period.
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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