A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded Rexnord Corporation from a sell rating to a hold rating in a research note on Monday, October 16th. BidaskClub downgraded Rexnord Corporation from a hold rating to a sell rating in a research note on Tuesday, August 1st. Robert W. Baird set a $27.00 price target on Rexnord Corporation and gave the company a buy rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Rexnord Corporation in a research note on Thursday, September 28th. Finally, Janney Montgomery Scott assumed coverage on Rexnord Corporation in a research note on Friday, July 21st. They issued a buy rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Rexnord Corporation currently has an average rating of Hold and a consensus price target of $26.00.
Shares of Rexnord Corporation (NYSE RXN) traded up $0.11 during mid-day trading on Wednesday, hitting $23.93. The company’s stock had a trading volume of 918,197 shares, compared to its average volume of 912,625. Rexnord Corporation has a one year low of $19.32 and a one year high of $26.24. The stock has a market cap of $2,480.00, a P/E ratio of 19.42, a P/E/G ratio of 1.84 and a beta of 1.65. The company has a quick ratio of 2.23, a current ratio of 3.08 and a debt-to-equity ratio of 1.37.
Rexnord Corporation (NYSE:RXN) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Rexnord Corporation had a return on equity of 12.03% and a net margin of 4.45%. The company had revenue of $510.80 million for the quarter, compared to the consensus estimate of $505.75 million. During the same period last year, the business posted $0.38 EPS. The company’s revenue was up 4.0% on a year-over-year basis. research analysts expect that Rexnord Corporation will post 1.26 EPS for the current year.
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In related news, insider Michael Troutman sold 22,914 shares of Rexnord Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $24.15, for a total value of $553,373.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. DF Dent & Co. Inc. raised its holdings in Rexnord Corporation by 38.1% during the third quarter. DF Dent & Co. Inc. now owns 24,429 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 6,746 shares during the last quarter. California Public Employees Retirement System raised its holdings in Rexnord Corporation by 3.1% during the third quarter. California Public Employees Retirement System now owns 237,525 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 7,125 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Rexnord Corporation by 2,348.4% during the third quarter. Cubist Systematic Strategies LLC now owns 49,213 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 47,203 shares during the last quarter. Highbridge Capital Management LLC raised its holdings in Rexnord Corporation by 292.2% during the third quarter. Highbridge Capital Management LLC now owns 185,010 shares of the industrial products company’s stock worth $4,701,000 after purchasing an additional 137,834 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Rexnord Corporation by 5.5% during the third quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock worth $360,250,000 after purchasing an additional 738,129 shares during the last quarter.
About Rexnord Corporation
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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