Rexnord Corporation (NYSE:RXN) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

Several equities research analysts have commented on RXN shares. Janney Montgomery Scott started coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research lowered shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Robert W. Baird set a $27.00 price target on shares of Rexnord Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. TheStreet upgraded shares of Rexnord Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Finally, BidaskClub upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th.

Shares of Rexnord Corporation (NYSE RXN) traded up 0.96% during midday trading on Friday, reaching $24.28. The company’s stock had a trading volume of 339,813 shares. The stock has a 50 day moving average of $23.89 and a 200-day moving average of $23.39. Rexnord Corporation has a 1-year low of $15.80 and a 1-year high of $25.50. The company has a market capitalization of $2.52 billion, a P/E ratio of 36.79 and a beta of 1.68.

Rexnord Corporation (NYSE:RXN) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The company had revenue of $487.70 million for the quarter, compared to analyst estimates of $484.20 million. During the same quarter last year, the business earned $0.35 earnings per share. Rexnord Corporation’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Rexnord Corporation will post $1.27 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC increased its stake in shares of Rexnord Corporation by 171.6% during the second quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 3,500 shares during the period. Strs Ohio acquired a new position in shares of Rexnord Corporation during the second quarter valued at approximately $139,000. US Bancorp DE increased its stake in shares of Rexnord Corporation by 79.9% during the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 2,697 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Rexnord Corporation during the first quarter valued at approximately $165,000. Finally, Karp Capital Management Corp acquired a new position in shares of Rexnord Corporation during the first quarter valued at approximately $202,000.

TRADEMARK VIOLATION WARNING: “Rexnord Corporation (RXN) Given Average Recommendation of “Hold” by Analysts” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/09/rexnord-corporation-rxn-given-average-recommendation-of-hold-by-analysts.html.

About Rexnord Corporation

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.

Analyst Recommendations for Rexnord Corporation (NYSE:RXN)

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