Rexnord Corp PT Raised to $32.00 (RXN)
Analysts at Robert W. Baird increased their price objective on shares of Rexnord Corp (NYSE:RXN) from $31.00 to $32.00 in a research report issued to clients and investors on Tuesday. Robert W. Baird’s price objective indicates a potential upside of 9.25% from the company’s current price.
In other Rexnord Corp news, EVP Praveen R. Jeyarajah sold 27,500 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $28.70, for a total value of $789,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on RXN. Analysts at Deutsche Bank initiated coverage on shares of Rexnord Corp in a research note on Thursday, July 10th. They set a “buy” rating and a $34.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Rexnord Corp in a research note on Wednesday, June 4th. They now have a $27.00 price target on the stock. Finally, analysts at Wedbush raised their price target on shares of Rexnord Corp from $31.00 to $33.00 in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.67.
Rexnord Corp (NYSE:RXN) traded up 0.14% during mid-day trading on Tuesday, hitting $29.33. 83,151 shares of the company’s stock traded hands. Rexnord Corp has a one year low of $17.83 and a one year high of $30.94. The stock has a 50-day moving average of $28.17 and a 200-day moving average of $28.03. The company has a market cap of $2.969 billion and a price-to-earnings ratio of 97.63.
Rexnord Corp (NYSE:RXN) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.39 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.32 earnings per share. Rexnord Corp’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Rexnord Corp will post $1.65 earnings per share for the current fiscal year.
Rexnord Corporation (NYSE:RXN) is a multi-platform industrial company.