A. O. Smith (NYSE:AOS) Downgraded by William Blair

A. O. Smith (NYSE:AOSGet Rating) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued on Sunday, Zacks.com reports. William Blair also issued estimates for A. O. Smith’s Q2 2022 earnings at $0.83 EPS, Q2 2022 earnings at $0.77 EPS, Q3 2022 earnings at $0.96 EPS, Q4 2022 earnings at $1.00 EPS and FY2023 earnings at $3.95 EPS.

A number of other analysts have also issued reports on AOS. Robert W. Baird reduced their price target on shares of A. O. Smith from $79.00 to $72.00 in a research report on Friday. Stifel Nicolaus dropped their price target on shares of A. O. Smith from $80.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, April 18th. Finally, StockNews.com initiated coverage on A. O. Smith in a research report on Thursday, March 31st. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $84.40.

NYSE:AOS opened at $59.32 on Friday. The company has a 50-day moving average of $65.70 and a 200-day moving average of $73.77. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a current ratio of 1.72, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. A. O. Smith has a twelve month low of $58.20 and a twelve month high of $86.74.

A. O. Smith (NYSE:AOSGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. A. O. Smith had a net margin of 13.59% and a return on equity of 27.82%. The company had revenue of $977.70 million during the quarter, compared to analyst estimates of $967.05 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 27.1% on a year-over-year basis. On average, research analysts forecast that A. O. Smith will post 3.53 earnings per share for the current year.

In related news, Director Michael M. Larsen purchased 3,925 shares of the stock in a transaction on Tuesday, February 22nd. The shares were purchased at an average cost of $69.87 per share, with a total value of $274,239.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AOS. Ellevest Inc. raised its stake in shares of A. O. Smith by 189.5% during the first quarter. Ellevest Inc. now owns 440 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 288 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in A. O. Smith in the first quarter valued at $28,000. Paragon Capital Management Ltd bought a new stake in shares of A. O. Smith during the fourth quarter valued at approximately $30,000. Artemis Wealth Advisors LLC acquired a new position in A. O. Smith during the first quarter worth $30,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of A. O. Smith by 60.4% in the 4th quarter. WASHINGTON TRUST Co now owns 449 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 76.55% of the company’s stock.

About A. O. Smith (Get Rating)

A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump 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; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices.

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