Rexnord Corp Given Average Rating of “Hold” by Brokerages (NYSE:RXN)
Rexnord Corp (NYSE:RXN) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, StockRatingsNetwork.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.78.
Shares of Rexnord Corp (NYSE:RXN) opened at 29.13 on Monday. Rexnord Corp has a 52-week low of $18.70 and a 52-week high of $30.94. The stock’s 50-day moving average is $28.14 and its 200-day moving average is $28.16. The company has a market cap of $2.952 billion and a P/E ratio of 102.70.
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.
A number of analysts have recently weighed in on RXN shares. 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.
In other Rexnord Corp news, major shareholder Apollo Management Holdings Gp, unloaded 10,000,000 shares of Rexnord Corp stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $26.45, for a total transaction of $264,500,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Rexnord Corporation (NYSE:RXN) is a multi-platform industrial company.
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