Rexnord Corp (RXN) Receives Average Rating of “Buy” from Analysts

Share on StockTwits

Rexnord Corp (NYSE:RXN) has received an average rating of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $32.57.

RXN has been the subject of several recent research reports. Zacks Investment Research reissued a “buy” rating and issued a $30.00 target price on shares of Rexnord in a research report on Thursday. TheStreet downgraded shares of Rexnord from a “b” rating to a “c+” rating in a research report on Thursday, October 25th. Oppenheimer reissued a “buy” rating and issued a $35.00 target price on shares of Rexnord in a research report on Monday, July 30th. Goldman Sachs Group initiated coverage on shares of Rexnord in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $31.00 target price for the company. Finally, KeyCorp boosted their target price on shares of Rexnord from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 31st.

RXN stock traded up $1.04 during trading hours on Thursday, hitting $28.95. The company’s stock had a trading volume of 448,712 shares, compared to its average volume of 708,986. The company has a quick ratio of 1.50, a current ratio of 2.23 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 0.99 and a beta of 1.48. Rexnord has a 12 month low of $23.04 and a 12 month high of $32.11.

Rexnord (NYSE:RXN) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The company had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.66 million. Rexnord had a negative net margin of 0.89% and a positive return on equity of 16.99%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, research analysts expect that Rexnord will post 1.75 EPS for the current fiscal year.

In other news, Director Theodore D. Crandall acquired 4,000 shares of Rexnord stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $27.84 per share, for a total transaction of $111,360.00. Following the completion of the purchase, the director now owns 20,330 shares of the company’s stock, valued at $565,987.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Wehr sold 7,500 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $217,425.00. Following the completion of the sale, the insider now owns 15,054 shares of the company’s stock, valued at $436,415.46. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Several institutional investors have recently modified their holdings of RXN. Royal Bank of Canada lifted its stake in shares of Rexnord by 8.9% in the first quarter. Royal Bank of Canada now owns 54,085 shares of the industrial products company’s stock worth $1,605,000 after buying an additional 4,419 shares during the last quarter. Principal Financial Group Inc. raised its stake in Rexnord by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,224,822 shares of the industrial products company’s stock valued at $36,352,000 after purchasing an additional 13,058 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Rexnord during the 1st quarter valued at $208,000. Bank of Montreal Can raised its stake in Rexnord by 2,821.3% during the 2nd quarter. Bank of Montreal Can now owns 113,053 shares of the industrial products company’s stock valued at $3,286,000 after purchasing an additional 109,183 shares during the last quarter. Finally, Ramsey Quantitative Systems raised its stake in Rexnord by 28.3% during the 2nd quarter. Ramsey Quantitative Systems now owns 12,197 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 2,694 shares during the last quarter.

About Rexnord

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

See Also: How Buying a Call Option Works

Analyst Recommendations for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply