A.O. Smith Corp. (AOS) Earns Buy Rating from KeyCorp
Several other equities analysts have also recently commented on the company. Jefferies Group cut their price target on A.O. Smith Corp. from $55.50 to $43.00 and set a buy rating for the company in a report on Friday, September 23rd. BMO Capital Markets set a $53.00 price target on A.O. Smith Corp. and gave the company a buy rating in a report on Monday, August 8th. Zacks Investment Research raised A.O. Smith Corp. from a hold rating to a buy rating and set a $52.50 price target for the company in a report on Thursday, July 28th. SunTrust Banks Inc. cut their price target on A.O. Smith Corp. from $51.50 to $45.00 and set a buy rating for the company in a report on Thursday, July 14th. Finally, Longbow Research initiated coverage on A.O. Smith Corp. in a report on Friday, June 17th. They issued a neutral rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $53.79.
Shares of A.O. Smith Corp. (NYSE:AOS) opened at 50.09 on Thursday. The company’s 50 day moving average price is $48.16 and its 200 day moving average price is $43.68. The firm has a market capitalization of $8.74 billion, a P/E ratio of 28.36 and a beta of 1.36. A.O. Smith Corp. has a one year low of $30.15 and a one year high of $51.49.
A.O. Smith Corp. (NYSE:AOS) last announced its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. A.O. Smith Corp. had a return on equity of 21.57% and a net margin of 12.23%. The firm earned $667 million during the quarter, compared to the consensus estimate of $696.69 million. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that A.O. Smith Corp. will post $3.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. A.O. Smith Corp.’s dividend payout ratio is 27.20%.
In related news, Director Mark D. Smith sold 1,146 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $93.76, for a total transaction of $107,448.96. Following the completion of the sale, the director now directly owns 54,850 shares of the company’s stock, valued at approximately $5,142,736. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wilfridus M. Brouwer sold 6,200 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $93.29, for a total value of $578,398.00. Following the sale, the insider now directly owns 19,449 shares of the company’s stock, valued at $1,814,397.21. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in A.O. Smith Corp. during the second quarter worth $106,000. Nordea Investment Management AB acquired a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Daiwa Securities Group Inc. acquired a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Mn Services Vermogensbeheer B.V. acquired a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Finally, Timber Hill LLC acquired a new stake in A.O. Smith Corp. during the second quarter worth $201,000. 76.34% of the stock is owned by hedge funds and other institutional investors.
A.O. Smith Corp. Company Profile
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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