Rexnord Corp Given New $24.00 Price Target at Barclays (RXN)
Equities research analysts at Barclays increased their target price on shares of Rexnord Corp (NYSE:RXN) to $24.00 in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective suggests a potential upside of 9.39% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Rexnord Corp from $19.00 to $21.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Rexnord Corp in a research note to investors on Monday, October 7th. They now have a $25.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Rexnord Corp from $22.00 to $23.00 in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.14.
Shares of Rexnord Corp (NYSE:RXN) opened at 21.94 on Friday. Rexnord Corp has a 52 week low of $15.00 and a 52 week high of $22.45. The stock has a 50-day moving average of $19.06 and a 200-day moving average of $18.99. The company has a market cap of $2.137 billion and a P/E ratio of 34.33.
Rexnord Corp (NYSE:RXN) last announced its earnings results on Thursday, October 24th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.04. The company had revenue of $515.00 million for the quarter, compared to the consensus estimate of $513.67 million. Analysts expect that Rexnord Corp will post $1.32 EPS for the current fiscal year.
Rexnord Corporation (NYSE:RXN), formerly Rexnord Holdings, Inc, is a multi-platform industrial company.
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