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Shares of Rexnord Corp (NYSE:RXN) were the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 2,283,602 shares, an increase of 99.7% from the June 30th total of 1,143,801 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 743,572 shares, the short-interest ratio is currently 3.1 days. Currently, 2.3% of the shares of the stock are sold short.

In other Rexnord Corp news, EVP Praveen R. Jeyarajah unloaded 27,500 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $26.70, for a total transaction of $734,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

A number of research firms have recently commented on RXN. Analysts at Robert W. Baird raised their price target on shares of Rexnord Corp from $31.00 to $32.00 in a research note on Tuesday, July 15th. Separately, 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. Finally, 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. 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 stock. Rexnord Corp currently has an average rating of “Hold” and an average target price of $29.67.

Shares of Rexnord Corp (NYSE:RXN) opened at 26.69 on Tuesday. Rexnord Corp has a one year low of $18.21 and a one year high of $30.94. The stock has a 50-day moving average of $28.5 and a 200-day moving average of $28.10. The company has a market cap of $2.701 billion and a P/E ratio of 88.30.

Rexnord Corp (NYSE:RXN) last released its 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. Analysts expect that Rexnord Corp will post $1.65 EPS for the current fiscal year.

Rexnord Corporation (NYSE:RXN) is a multi-platform industrial company.

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