Barclays initiated coverage on shares of Rexnord (NYSE:RXN) in a report released on Thursday morning. The brokerage issued an equal weight rating and a $30.00 price objective on the industrial products company’s stock.
Several other research analysts also recently commented on the stock. TheStreet downgraded shares of Rexnord from a b- rating to a c+ rating in a report on Wednesday, November 15th. Bank of America raised shares of Rexnord from a neutral rating to a buy rating in a report on Monday, January 8th. Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the company a buy rating in a report on Friday, January 19th. Zacks Investment Research downgraded shares of Rexnord from a hold rating to a sell rating in a report on Tuesday, January 2nd. Finally, ValuEngine raised shares of Rexnord from a hold rating to a buy rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $30.57.
Rexnord (NYSE:RXN) traded up $0.07 on Thursday, hitting $28.06. 321,908 shares of the company’s stock traded hands, compared to its average volume of 873,201. Rexnord has a twelve month low of $21.51 and a twelve month high of $31.44. The company has a market cap of $2,852.14, a P/E ratio of 21.37, a PEG ratio of 2.06 and a beta of 1.77. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.49 and a quick ratio of 1.58.
Rexnord (NYSE:RXN) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The business had revenue of $492.30 million during the quarter, compared to the consensus estimate of $479.66 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 9.0% on a year-over-year basis. analysts forecast that Rexnord will post 1.33 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in RXN. Macquarie Group Ltd. purchased a new stake in shares of Rexnord during the 4th quarter valued at about $112,000. Global X Management Co. LLC raised its position in shares of Rexnord by 75.3% during the 4th quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock valued at $187,000 after buying an additional 3,090 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Rexnord during the 3rd quarter valued at about $212,000. Ameritas Investment Partners Inc. raised its position in shares of Rexnord by 27.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after buying an additional 1,981 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Rexnord during the 3rd quarter valued at about $219,000.
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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