A. O. Smith (NYSE:AOS) Given New $88.00 Price Target at Oppenheimer

Key Points

• Oppenheimer has raised its price target for A. O. Smith (NYSE:AOS) from $82.00 to $88.00, indicating a potential upside of 23.38% from the company's previous close.
• A. O. Smith reported a quarterly EPS of $1.07, surpassing estimates of $0.97, although its revenue declined by 1.3% year-over-year.
• Institutional investors currently own 76.10% of A. O. Smith's stock, with several firms increasing their stakes in recent months.

A. O. Smith (NYSE:AOS - Get Free Report) had its target price raised by equities research analysts at Oppenheimer from $82.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price objective suggests a potential upside of 23.38% from the company's previous close.

A number of other brokerages have also commented on AOS. Stifel Nicolaus raised their price target on A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. began coverage on shares of A. O. Smith in a research report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 price target on the stock. Robert W. Baird boosted their price target on shares of A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup reduced their price target on shares of A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a research report on Saturday, July 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $77.14.

A. O. Smith Trading Down 1.0%

Shares of NYSE AOS traded down $0.74 during mid-day trading on Monday, hitting $71.32. The stock had a trading volume of 218,614 shares, compared to its average volume of 1,583,585. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. A. O. Smith has a 1 year low of $58.83 and a 1 year high of $92.06. The business has a 50 day moving average price of $66.80 and a two-hundred day moving average price of $66.74. The firm has a market cap of $10.14 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.97 by $0.10. A. O. Smith had a net margin of 13.68% and a return on equity of 28.42%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $997.89 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that A. O. Smith will post 3.76 EPS for the current fiscal year.

Institutional Trading of A. O. Smith

Institutional investors have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in A. O. Smith during the 1st quarter valued at $26,000. TD Private Client Wealth LLC raised its stake in A. O. Smith by 143.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 446 shares of the industrial products company's stock valued at $29,000 after buying an additional 263 shares during the last quarter. National Pension Service increased its stake in shares of A. O. Smith by 74.8% in the 1st quarter. National Pension Service now owns 458 shares of the industrial products company's stock worth $30,000 after purchasing an additional 196 shares in the last quarter. TCTC Holdings LLC increased its stake in shares of A. O. Smith by 69.9% in the 1st quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of A. O. Smith by 161.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company's stock worth $35,000 after purchasing an additional 333 shares in the last quarter. 76.10% 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, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.

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