Rexnord Corp. (NYSE:RXN) Receives Consensus Rating of “Hold” from Analysts
Rexnord Corp. (NYSE:RXN) has earned an average recommendation of “Hold” from the ten brokerages that are covering the firm. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.80.
A number of research analysts have issued reports on the stock. Credit Suisse Group AG restated a “buy” rating on shares of Rexnord Corp. in a research report on Saturday, July 9th. Zacks Investment Research lowered shares of Rexnord Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd. Barclays PLC increased their target price on shares of Rexnord Corp. from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. Finally, Robert W. Baird lowered shares of Rexnord Corp. from an “outperform” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Thursday, June 23rd.
Rexnord Corp. (NYSE:RXN) traded up 0.77% during mid-day trading on Monday, hitting $19.73. The stock had a trading volume of 87,676 shares. Rexnord Corp. has a 1-year low of $14.04 and a 1-year high of $22.97. The company has a market cap of $2.03 billion, a P/E ratio of 31.02 and a beta of 1.57. The company has a 50-day moving average price of $21.46 and a 200 day moving average price of $20.76.
Rexnord Corp. (NYSE:RXN) last announced its earnings results on Monday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. Rexnord Corp. had a net margin of 3.43% and a return on equity of 25.62%. The firm had revenue of $472 million for the quarter, compared to analyst estimates of $459.57 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Rexnord Corp. will post $1.51 EPS for the current fiscal year.
In related news, Director David C. Longren acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was acquired at an average price of $21.39 per share, with a total value of $42,780.00. Following the purchase, the director now directly owns 8,467 shares in the company, valued at $181,109.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Rexnord Corp. during the fourth quarter valued at approximately $11,474,000. Fox Run Management L.L.C. bought a new position in shares of Rexnord Corp. during the first quarter valued at approximately $354,000. Quantitative Systematic Strategies LLC bought a new position in shares of Rexnord Corp. during the first quarter valued at approximately $1,387,000. Douglas Lane & Associates LLC bought a new position in shares of Rexnord Corp. during the first quarter valued at approximately $3,358,000. Finally, Manchester Capital Management LLC increased its position in shares of Rexnord Corp. by 33.1% in the first quarter. Manchester Capital Management LLC now owns 21,490 shares of the company’s stock valued at $435,000 after buying an additional 5,350 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.
About Rexnord Corp.
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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