Rexnord Corp Receives Average Rating of “Hold” from Brokerages (NYSE:RXN)
Shares of Rexnord Corp (NYSE:RXN) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, Analyst Ratings.Net reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $29.78.
In other Rexnord Corp news, major shareholder Apollo Management Holdings Gp, unloaded 10,000,000 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $26.45, for a total transaction of $264,500,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
RXN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Rexnord Corp in a research note on Thursday, August 14th. They now have a $28.00 price target on the stock. Separately, 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. Finally, 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.
Rexnord Corp (NYSE:RXN) opened at 28.991 on Monday. Rexnord Corp has a one year low of $18.54 and a one year high of $30.94. The stock has a 50-day moving average of $28.09 and a 200-day moving average of $28.09. The company has a market cap of $2.938 billion and a price-to-earnings ratio of 102.73.
Rexnord Corp (NYSE:RXN) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.01. The company had revenue of $509.80 million for the quarter, compared to the consensus estimate of $513.40 million. Rexnord Corp’s revenue was up .2% 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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