Rexnord Corporation (RXN) PT Set at $27.00 by Robert W. Baird
Rexnord Corporation (NYSE:RXN) has been assigned a $27.00 price objective by Robert W. Baird in a research report issued on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 14.60% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Janney Montgomery Scott assumed coverage on shares of Rexnord Corporation in a report on Friday, July 21st. They set a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. TheStreet upgraded shares of Rexnord Corporation from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rexnord Corporation in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $26.00.
Rexnord Corporation (NYSE RXN) opened at 23.56 on Thursday. Rexnord Corporation has a 52-week low of $15.80 and a 52-week high of $25.50. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 35.70 and a beta of 1.63. The stock’s 50 day moving average price is $23.75 and its 200 day moving average price is $23.28.
Rexnord Corporation (NYSE:RXN) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $487.70 million for the quarter, compared to the consensus estimate of $484.20 million. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. Rexnord Corporation’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. On average, analysts forecast that Rexnord Corporation will post $1.27 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of RXN. Karp Capital Management Corp purchased a new position in Rexnord Corporation during the first quarter worth about $202,000. Gabelli Funds LLC raised its stake in Rexnord Corporation by 6.7% in the first quarter. Gabelli Funds LLC now owns 32,000 shares of the industrial products company’s stock valued at $739,000 after buying an additional 2,000 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Rexnord Corporation by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,557,111 shares of the industrial products company’s stock valued at $35,938,000 after buying an additional 6,800 shares in the last quarter. Swiss National Bank raised its stake in Rexnord Corporation by 1.8% in the first quarter. Swiss National Bank now owns 169,000 shares of the industrial products company’s stock valued at $3,901,000 after buying an additional 3,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rexnord Corporation by 102.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 241,807 shares of the industrial products company’s stock valued at $5,581,000 after buying an additional 122,080 shares in the last quarter.
Rexnord Corporation Company Profile
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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