Rexnord (RXN) PT Set at $33.00 by Deutsche Bank

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.

ILLEGAL ACTIVITY WARNING: “Rexnord (RXN) PT Set at $33.00 by Deutsche Bank” was published by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/20/rexnord-rxn-pt-set-at-33-00-by-deutsche-bank.html.

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.