UBS Group Upgrades Rexnord (RXN) to Outperform

Rexnord (NYSE:RXN) was upgraded by investment analysts at UBS Group from a “market perform” rating to an “outperform” rating in a report released on Thursday, The Fly reports.

Several other analysts also recently commented on RXN. KeyCorp raised their target price on shares of Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Zacks Investment Research upgraded shares of Rexnord from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a report on Tuesday, February 6th. ValuEngine upgraded shares of Rexnord from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. TheStreet upgraded shares of Rexnord from a “c+” rating to a “b” rating in a report on Friday, January 26th. Finally, Deutsche Bank set a $33.00 target price on shares of Rexnord and gave the stock a “buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $30.67.

Rexnord (NYSE:RXN) traded up $0.10 during trading on Thursday, reaching $26.81. 1,052,947 shares of the company traded hands, compared to its average volume of 863,064. Rexnord has a twelve month low of $21.51 and a twelve month high of $31.44. The company has a market cap of $2,787.68, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 2.02 and a beta of 1.77. The company has a quick ratio of 1.58, a current ratio of 2.49 and a debt-to-equity ratio of 1.05.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.27 by $0.10. The firm had revenue of $492.30 million for the quarter, compared to the consensus estimate of $479.66 million. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. research analysts anticipate that Rexnord will post 1.33 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC raised its holdings in shares of Rexnord by 75.3% in the fourth quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 3,090 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of Rexnord in the third quarter valued at approximately $212,000. Ameritas Investment Partners Inc. raised its holdings in shares of Rexnord by 27.7% in the second quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 1,981 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Rexnord in the third quarter valued at approximately $219,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Rexnord in the second quarter valued at approximately $230,000.

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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.

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Analyst Recommendations for Rexnord (NYSE:RXN)

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