Rockwell Automation (ROK) Coverage Initiated by Analysts at Credit Suisse Group

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Credit Suisse Group initiated coverage on shares of Rockwell Automation (NYSE:ROK) in a research report released on Friday, Marketbeat reports. The brokerage issued an underperform rating and a $171.00 price objective on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Rockwell Automation from a buy rating to a hold rating in a research note on Monday, August 6th. Barclays reaffirmed a hold rating and set a $176.00 price target on shares of Rockwell Automation in a research note on Thursday, July 26th. Gordon Haskett began coverage on shares of Rockwell Automation in a research note on Friday. They set a buy rating for the company. Wolfe Research began coverage on shares of Rockwell Automation in a research note on Wednesday, June 27th. They set a market perform rating for the company. Finally, ValuEngine raised shares of Rockwell Automation from a hold rating to a buy rating in a research note on Friday, September 21st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $184.92.

NYSE:ROK traded up $2.19 on Friday, hitting $172.79. The company had a trading volume of 1,256,652 shares, compared to its average volume of 1,044,202. The company has a market cap of $23.10 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.01 and a beta of 1.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 1.60. Rockwell Automation has a 52 week low of $155.81 and a 52 week high of $210.72.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.12. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. As a group, analysts expect that Rockwell Automation will post 8.01 EPS for the current year.

Rockwell Automation announced that its board has authorized a stock buyback program on Thursday, September 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Theodore D. Crandall sold 5,533 shares of the stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total transaction of $1,036,552.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Steven W. Etzel sold 1,400 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.68, for a total transaction of $262,752.00. Following the sale, the vice president now owns 8,668 shares of the company’s stock, valued at $1,626,810.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,433 shares of company stock valued at $2,086,894. 1.28% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of ROK. Summit Trail Advisors LLC grew its holdings in Rockwell Automation by 17,669.8% in the first quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 343,677 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Rockwell Automation in the second quarter worth $40,950,000. Bank of America Corp DE grew its holdings in Rockwell Automation by 23.2% in the second quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock worth $203,581,000 after purchasing an additional 230,688 shares during the period. Cambiar Investors LLC acquired a new stake in Rockwell Automation in the second quarter worth $35,385,000. Finally, Davidson Kempner Capital Management LP acquired a new stake in Rockwell Automation in the second quarter worth $29,090,000. Institutional investors and hedge funds own 76.68% of the company’s stock.

About Rockwell Automation

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

See Also: Intrinsic Value

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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