Rexnord (RXN) Rating Increased to Buy at Bank of America
Bank of America upgraded shares of Rexnord (NYSE:RXN) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat reports.
Several other research firms also recently commented on RXN. Zacks Investment Research downgraded Rexnord from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Oppenheimer reaffirmed a hold rating on shares of Rexnord in a research note on Thursday, September 28th. Finally, TheStreet downgraded Rexnord from a b- rating to a c+ rating in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $27.00.
Rexnord (NYSE RXN) traded down $0.02 during trading on Monday, hitting $27.68. The stock had a trading volume of 888,090 shares, compared to its average volume of 897,700. Rexnord has a fifty-two week low of $20.46 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23. The stock has a market cap of $2,880.00, a P/E ratio of 43.25, a P/E/G ratio of 2.10 and a beta of 1.65.
A number of institutional investors and hedge funds have recently bought and sold shares of RXN. Parametrica Management Ltd purchased a new stake in Rexnord during the 3rd quarter valued at approximately $212,000. Ameritas Investment Partners Inc. raised its stake 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 worth $213,000 after buying an additional 1,981 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Rexnord during the 3rd quarter worth approximately $219,000. Prudential Financial Inc. purchased a new position in shares of Rexnord during the 2nd quarter worth approximately $230,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Rexnord during the 3rd quarter worth approximately $288,000.
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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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