Rockwell Automation Rating Reiterated by Zacks (ROK)
Rockwell Automation (NYSE:ROK)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday. They currently have a $119.00 price objective on the stock. Zacks‘s target price suggests a potential upside of 5.00% from the stock’s previous close.
Zacks’ analyst wrote, “We have reiterated our Neutral recommendation on Rockwell Automation with a target price of $119. Adjusted earnings declined 3% year over year to $1.49 per share in the third quarter of fiscal 2014, negatively impacted by $0.11 due to a higher tax rate. Rockwell Automation trimmed its organic revenue growth to the range of 4% to 6% and adjusted earnings per share in the range of $6.10 to $6.25. The company will benefit from expansion in emerging markets and acquisitions. In addition, a strong balance sheet and free cash flow, along with dividends and share repurchases, will drive growth. However, uncertainty in the global economy remains a headwind in the near term.”
Shares of Rockwell Automation (NYSE:ROK) traded down 0.86% during mid-day trading on Thursday, hitting $112.35. The stock had a trading volume of 591,791 shares. Rockwell Automation has a 52-week low of $93.47 and a 52-week high of $128.57. The stock has a 50-day moving average of $124.0 and a 200-day moving average of $121.4. The company has a market cap of $15.554 billion and a price-to-earnings ratio of 19.95.
Rockwell Automation (NYSE:ROK) last released its earnings data on Wednesday, July 30th. The company reported $1.49 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.57 by $0.08. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Rockwell Automation will post $6.19 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Rockwell Automation in a research note on Wednesday, July 23rd. They now have a $84.00 price target on the stock, down previously from $88.00. Separately, analysts at Morgan Stanley raised their price target on shares of Rockwell Automation from $112.00 to $116.00 in a research note on Thursday, July 10th. Finally, analysts at Bank of America initiated coverage on shares of Rockwell Automation in a research note on Friday, May 16th. They set a “buy” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $115.54.
Rockwell Automation, Inc (NYSE:ROK) is a provider of industrial automation power, control and information solutions that help manufacturers achieve a competitive advantage for their businesses.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.