Rexnord Corp PT Raised to $33.00 at Wedbush (RXN)
Stock analysts at Wedbush lifted their price objective on shares of Rexnord Corp (NYSE:RXN) from $31.00 to $33.00 in a report issued on Wednesday. Wedbush’s target price points to a potential upside of 27.66% from the company’s current price.
Rexnord Corp (NYSE:RXN) traded up 5.07% during mid-day trading on Wednesday, hitting $27.16. 1,353,024 shares of the company’s stock traded hands. Rexnord Corp has a 52-week low of $15.88 and a 52-week high of $30.94. The stock has a 50-day moving average of $26.91 and a 200-day moving average of $27.26. The company has a market cap of $2.749 billion and a P/E ratio of 86.17.
Rexnord Corp (NYSE:RXN) last announced its earnings results on Wednesday, May 21st. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.47 by $0.08. The company had revenue of $569.70 million for the quarter, compared to the consensus estimate of $582.77 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Rexnord Corp will post $1.64 earnings per share for the current fiscal year.
RXN has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of Rexnord Corp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Analysts at Bank of America downgraded shares of Rexnord Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 23rd. They now have a $29.00 price target on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Rexnord Corp presently has an average rating of “Hold” and an average price target of $28.29.
Rexnord Corporation (NYSE:RXN), formerly Rexnord Holdings, Inc, is a multi-platform industrial company.
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