Rexnord (NYSE:RXN) had its price objective lifted by Deutsche Bank from $31.00 to $33.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the industrial products company’s stock.
Other analysts have also issued reports about the company. Barclays reissued a hold rating and issued a $29.00 price objective on shares of Rexnord in a report on Friday, October 4th. Robert W. Baird cut Rexnord from an outperform rating to a neutral rating and cut their price objective for the company from $33.00 to $29.00 in a research report on Tuesday, September 3rd. Finally, Zacks Investment Research downgraded Rexnord from a hold rating to a sell rating and set a $27.00 target price for the company. in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $29.67.
Shares of RXN stock traded up $0.30 during mid-day trading on Wednesday, hitting $31.03. 13,338 shares of the stock were exchanged, compared to its average volume of 745,229. The firm has a fifty day moving average of $29.66 and a 200 day moving average of $28.20. The company has a quick ratio of 1.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.95. Rexnord has a 52-week low of $21.38 and a 52-week high of $31.88. The company has a market cap of $3.35 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.83 and a beta of 1.63.
Rexnord (NYSE:RXN) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $521.30 million during the quarter, compared to analyst estimates of $524.39 million. Rexnord had a return on equity of 19.40% and a net margin of 8.56%. Rexnord’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts predict that Rexnord will post 1.98 EPS for the current year.
In other Rexnord news, insider Craig Wehr sold 5,671 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.60, for a total transaction of $173,532.60. Following the completion of the sale, the insider now directly owns 14,168 shares in the company, valued at approximately $433,540.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Troutman sold 1,414 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.52, for a total value of $44,569.28. Following the sale, the insider now owns 30,695 shares of the company’s stock, valued at $967,506.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,574 shares of company stock worth $5,630,875. Insiders own 5.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rexnord by 0.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,250 shares of the industrial products company’s stock worth $4,578,000 after buying an additional 606 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Rexnord by 20.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 794 shares during the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in Rexnord in the 2nd quarter worth approximately $31,000. US Bancorp DE lifted its stake in Rexnord by 2.7% in the 2nd quarter. US Bancorp DE now owns 44,085 shares of the industrial products company’s stock worth $1,332,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Rexnord by 1.1% during the 2nd quarter. Putnam Investments LLC now owns 120,300 shares of the industrial products company’s stock worth $3,635,000 after purchasing an additional 1,300 shares during the last quarter.
Rexnord Company Profile
Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.
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