Rexnord Corp (NYSE:RXN) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Rexnord Corp from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday, April 10th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Rexnord Corp in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Rexnord Corp presently has a consensus rating of “Buy” and a consensus price target of $24.25.

Rexnord Corp (NYSE:RXN) traded up 1.12% on Wednesday, hitting $23.50. 417,367 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $23.29 and a 200-day moving average price of $21.90. Rexnord Corp has a 52-week low of $15.80 and a 52-week high of $25.00. The stock has a market cap of $2.43 billion, a P/E ratio of 36.72 and a beta of 1.62.

Rexnord Corp (NYSE:RXN) last announced its earnings results on Wednesday, May 17th. The industrial products company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. Rexnord Corp had a net margin of 2.43% and a return on equity of 19.52%. The firm had revenue of $503.60 million for the quarter, compared to analysts’ expectations of $493.65 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts predict that Rexnord Corp will post $1.35 earnings per share for the current fiscal year.

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In related news, CEO Todd A. Adams sold 33,000 shares of the company’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $22.89, for a total value of $755,370.00. Following the transaction, the chief executive officer now owns 168,713 shares in the company, valued at approximately $3,861,840.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. WFG Advisors LP purchased a new position in shares of Rexnord Corp during the fourth quarter worth about $103,000. Tower Research Capital LLC TRC boosted its position in shares of Rexnord Corp by 6,055.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,217 shares of the industrial products company’s stock worth $122,000 after buying an additional 6,116 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Rexnord Corp during the first quarter worth about $165,000. BNP Paribas Arbitrage SA boosted its position in shares of Rexnord Corp by 152.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,853 shares of the industrial products company’s stock worth $193,000 after buying an additional 5,957 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Rexnord Corp during the first quarter worth about $202,000. Institutional investors own 94.97% of the company’s stock.

About Rexnord Corp

Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.

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