Rexnord Corp (NYSE:RXN) Receives Average Rating of “Hold” from Analysts

Shares of Rexnord Corp (NYSE:RXN) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $30.86.

RXN has been the topic of several research analyst reports. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a report on Friday, July 12th. Zacks Investment Research lowered First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st.

Rexnord stock traded up $0.24 during midday trading on Tuesday, hitting $28.24. 477,169 shares of the company were exchanged, compared to its average volume of 479,254. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.67 and a beta of 1.57. Rexnord has a fifty-two week low of $21.38 and a fifty-two week high of $32.11. The stock’s fifty day simple moving average is $28.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.48 and a quick ratio of 1.68.

Rexnord (NYSE:RXN) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The firm had revenue of $537.50 million for the quarter, compared to analyst estimates of $543.89 million. Rexnord had a return on equity of 19.22% and a net margin of 1.68%. Rexnord’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Equities research analysts expect that Rexnord will post 1.92 earnings per share for the current year.

In other news, General Counsel Patricia M. Whaley sold 1,226 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $26.57, for a total value of $32,574.82. Following the transaction, the general counsel now owns 66,336 shares in the company, valued at $1,762,547.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Troutman sold 11,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $29.51, for a total value of $349,545.95. Following the completion of the transaction, the insider now owns 46,525 shares in the company, valued at approximately $1,372,952.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 331,976 shares of company stock worth $9,269,388. Company insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA lifted its position in shares of Rexnord by 23.8% in the first quarter. Federated Investors Inc. PA now owns 690,480 shares of the industrial products company’s stock valued at $17,358,000 after acquiring an additional 132,929 shares in the last quarter. Water Asset Management LLC lifted its position in shares of Rexnord by 12.3% in the fourth quarter. Water Asset Management LLC now owns 148,951 shares of the industrial products company’s stock valued at $3,418,000 after acquiring an additional 16,275 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in shares of Rexnord by 1,500.0% in the first quarter. NumerixS Investment Technologies Inc now owns 17,600 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 16,500 shares in the last quarter. Millennium Management LLC lifted its position in shares of Rexnord by 61.8% in the fourth quarter. Millennium Management LLC now owns 583,889 shares of the industrial products company’s stock valued at $13,400,000 after acquiring an additional 222,922 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Rexnord by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 1,088,671 shares of the industrial products company’s stock valued at $24,984,000 after acquiring an additional 67,705 shares in 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.

See Also: Buy-Side Analysts

Analyst Recommendations for Rexnord (NYSE:RXN)

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