Rexnord Llc (NYSE:RXN) has been assigned an average rating of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.57.
RXN has been the topic of several recent analyst reports. ValuEngine raised shares of Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Oppenheimer raised shares of Rexnord from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Thursday, February 8th. TheStreet raised shares of Rexnord from a “c+” rating to a “b” rating in a research note on Friday, January 26th. Zacks Investment Research raised shares of Rexnord from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, February 6th. Finally, Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the company a “buy” rating in a research note on Friday, January 19th.
Shares of RXN stock traded down $0.67 during trading hours on Wednesday, hitting $29.01. The company’s stock had a trading volume of 2,045,937 shares, compared to its average volume of 874,247. The firm has a market capitalization of $3,086.09, a PE ratio of 22.21, a P/E/G ratio of 1.77 and a beta of 1.60. Rexnord has a twelve month low of $21.85 and a twelve month high of $31.44. 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 results 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. The business had revenue of $492.30 million for the quarter, compared to analyst estimates of $479.66 million. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. sell-side analysts anticipate that Rexnord will post 1.35 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Rexnord by 14.5% during the fourth quarter. BlackRock Inc. now owns 8,162,025 shares of the industrial products company’s stock worth $212,376,000 after purchasing an additional 1,031,304 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in Rexnord during the fourth quarter worth approximately $23,580,000. Janus Henderson Group PLC raised its stake in Rexnord 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 period. Teachers Advisors LLC raised its stake in Rexnord by 384.1% during the fourth quarter. Teachers Advisors LLC now owns 904,799 shares of the industrial products company’s stock worth $23,543,000 after purchasing an additional 717,908 shares during the period. Finally, 1060 Capital LLC purchased a new position in Rexnord during the fourth quarter worth approximately $18,503,000. 99.81% of the stock is currently owned by institutional investors and hedge funds.
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Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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