Rosenblatt Securities analyst Scott Graham maintained a Hold rating on AO Smith (AOS) today and set a price target of $48.00. The company’s shares closed last Wednesday at $53.06, close to its 52-week high of $53.72.
According to TipRanks.com, Graham is a 4-star analyst with an average return of 7.5% and a 62.3% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Altra Industrial Motion, Thermon Group Holdings, and Rockwell Automation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AO Smith with a $47.60 average price target, which is a -8.9% downside from current levels. In a report released today, Oppenheimer also maintained a Hold rating on the stock.
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Based on AO Smith’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $637 million and net profit of $51.7 million. In comparison, last year the company earned revenue of $748 million and had a net profit of $89.3 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AOS in relation to earlier this year. Last month, Ajita Rajendra, the EC of AOS sold 46,000 shares for a total of $2,278,380.
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A. O. Smith Corp. manufactures residential and commercial water heating equipment and air purification products. It operates through the following two segments: North America and Rest of World. The North America segment manufactures and markets comprehensive lines of residential and commercial gas and electric water heaters, boilers, tanks. The Rest of World segment comprises of China, Europe, and India; and manufactures and markets water treatment products. The company was founded by Charles Jeremiah Smith in 1874 and is headquartered in Milwaukee, WI.