A. O. Smith (NYSE:AOS) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of A. O. Smith (NYSE:AOS) from a sell rating to a hold rating in a report released on Friday, ValuEngine reports.

AOS has been the topic of several other reports. Boenning Scattergood cut 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. TheStreet cut A. O. Smith from a b- rating to a c+ rating in a research report on Monday, August 5th. Zacks Investment Research cut A. O. Smith from a hold rating to a sell rating and set a $48.00 target price on the stock. in a research report on Wednesday, June 26th. DA Davidson dropped their target price on A. O. Smith to $58.00 and set a buy rating on the stock in a research report on Friday, June 7th. Finally, Edward Jones cut A. O. Smith from a buy rating to a hold rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. A. O. Smith has an average rating of Hold and an average price target of $54.25.

Shares of A. O. Smith stock traded up $0.17 during trading on Friday, hitting $46.27. 1,981,000 shares of the company’s stock traded hands, compared to its average volume of 2,559,799. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.19 and a quick ratio of 1.74. A. O. Smith has a 1 year low of $40.34 and a 1 year high of $61.08. The stock has a market capitalization of $7.61 billion, a P/E ratio of 17.73, a PEG ratio of 2.16 and a beta of 1.54. The business has a 50-day simple moving average of $45.22 and a 200-day simple moving average of $48.80.

A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.03). A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The business had revenue of $765.40 million for the quarter, compared to analysts’ expectations of $812.29 million. During the same period last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities analysts predict that A. O. Smith will post 2.38 earnings per share for the current fiscal year.

A. O. Smith declared that its board has approved a stock repurchase program on Monday, June 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, July 30th. A. O. Smith’s dividend payout ratio (DPR) is currently 33.72%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bremer Bank National Association bought a new stake in A. O. Smith during the 1st quarter valued at approximately $25,000. Huntington National Bank boosted its holdings in shares of A. O. Smith by 82.2% in the 1st quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 231 shares during the period. Penserra Capital Management LLC purchased a new position in shares of A. O. Smith in the 1st quarter worth approximately $29,000. Signaturefd LLC boosted its holdings in shares of A. O. Smith by 67.6% in the 1st quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 217 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of A. O. Smith by 1,560.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,162 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,092 shares during the period. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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