Rexnord Corp (NYSE:RXN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Year to date, shares of Rexnord Corporation have outperformed the Zacks categorized Machinery Electrical industry. In fourth-quarter fiscal 2017, the company's earnings and sales surpassed their respective Zacks Consensus Estimate by 6.1% and 1.8%. For fiscal 2018, the company anticipates benefiting from innovation of new products, cost-control measures and strengthening consumer driven end markets. Core sales growth will likely be in low single-digit in the fiscal year. Also, it is on track to complete its supply-chain optimization and footprint-repositioning programs in first-quarter fiscal 2018, realizing annualized cost-savings of $30 million. However, the company is exposed to risks from industry rivalry, forex woes and uncertain economic conditions.”

Other analysts also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Rexnord Corp in a report on Thursday. TheStreet raised shares of Rexnord Corp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rexnord Corp presently has an average rating of “Buy” and an average price target of $24.25.

Analyst Recommendations for Rexnord Corp (NYSE:RXN)

Rexnord Corp (NYSE:RXN) traded up 0.56% on Monday, reaching $23.26. 487,485 shares of the company’s stock traded hands. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 36.34 and a beta of 1.62. The stock has a 50 day moving average price of $23.30 and a 200 day moving average price of $21.92. Rexnord Corp has a 12-month low of $15.80 and a 12-month high of $25.00.

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

ILLEGAL ACTIVITY NOTICE: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at

In related news, CEO Todd A. Adams sold 33,000 shares of the stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $22.89, for a total transaction of $755,370.00. Following the sale, the chief executive officer now directly owns 168,713 shares of the company’s stock, valued at $3,861,840.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RXN. Jennison Associates LLC boosted its position in Rexnord Corp by 2.6% in the third quarter. Jennison Associates LLC now owns 4,045,235 shares of the industrial products company’s stock worth $86,608,000 after buying an additional 101,375 shares in the last quarter. BlackRock Fund Advisors boosted its position in Rexnord Corp by 6.7% in the third quarter. BlackRock Fund Advisors now owns 2,180,706 shares of the industrial products company’s stock worth $46,689,000 after buying an additional 137,434 shares in the last quarter. Teachers Advisors LLC boosted its position in Rexnord Corp by 7.3% in the third quarter. Teachers Advisors LLC now owns 144,240 shares of the industrial products company’s stock worth $3,088,000 after buying an additional 9,828 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Rexnord Corp by 166.3% in the third quarter. Ameriprise Financial Inc. now owns 385,001 shares of the industrial products company’s stock worth $8,243,000 after buying an additional 240,432 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Rexnord Corp during the third quarter worth $351,000. 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.

12 Month Chart for NYSE:RXN

Get a free copy of the Zacks research report on Rexnord Corp (RXN)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for Rexnord Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord Corp and related companies with's FREE daily email newsletter.