Rexnord (NYSE:RXN) received a $33.00 price objective from stock analysts at Deutsche Bank in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank’s price objective suggests a potential upside of 14.74% from the stock’s previous close.
A number of other research firms have also issued reports on RXN. Oppenheimer reiterated a “hold” rating on shares of Rexnord in a research note on Thursday, September 28th. TheStreet lowered shares of Rexnord from a “b-” rating to a “c+” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Bank of America upgraded shares of Rexnord from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.00.
Shares of Rexnord (NYSE RXN) traded up $1.20 on Friday, hitting $28.76. 1,797,017 shares of the stock traded hands, compared to its average volume of 600,245. Rexnord has a 52 week low of $21.07 and a 52 week high of $28.85. The firm has a market cap of $2,864.18, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.65. The company has a current ratio of 3.08, a quick ratio of 2.23 and a debt-to-equity ratio of 1.37.
Rexnord (NYSE:RXN) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The company had revenue of $510.80 million for the quarter, compared to analyst estimates of $505.75 million. During the same quarter in the prior year, the business posted $0.38 EPS. Rexnord’s quarterly revenue was up 4.0% on a year-over-year basis. research analysts anticipate that Rexnord will post 1.25 EPS for the current year.
Large investors have recently bought and sold shares of the stock. DF Dent & Co. Inc. acquired a new position in Rexnord in the 2nd quarter valued at $411,000. Citadel Advisors LLC acquired a new stake in Rexnord in the 3rd quarter worth $2,505,000. Nordea Investment Management AB grew its position in Rexnord by 11.0% in the 3rd quarter. Nordea Investment Management AB now owns 87,939 shares of the industrial products company’s stock worth $2,235,000 after purchasing an additional 8,744 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Rexnord in the 2nd quarter worth $312,466,000. Finally, BlackRock Inc. grew its position in Rexnord by 14.4% in the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock worth $163,374,000 after purchasing an additional 883,165 shares during the last quarter.
Rexnord 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.