Credit Suisse Group reaffirmed their neutral rating on shares of Rexnord (NYSE:RXN) in a report issued on Thursday, January 3rd, The Fly reports. Credit Suisse Group currently has a $25.00 price objective on the industrial products company’s stock, down from their prior price objective of $31.00.
Several other research firms have also recently issued reports on RXN. TheStreet cut Rexnord from a b rating to a c+ rating in a report on Thursday, October 25th. Oppenheimer lifted their price objective on shares of Rexnord from $35.00 to $37.00 and gave the stock a buy rating in a research report on Wednesday, October 10th. ValuEngine cut shares of Rexnord from a buy rating to a hold rating in a report on Thursday, October 18th. Finally, Zacks Investment Research upgraded shares of Rexnord from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Tuesday, December 11th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $31.13.
Shares of RXN stock opened at $24.54 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.23 and a quick ratio of 1.50. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.81 and a beta of 1.54. Rexnord has a 52 week low of $21.38 and a 52 week high of $32.11.
Rexnord (NYSE:RXN) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Rexnord had a positive return on equity of 16.99% and a negative net margin of 0.89%. The business had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.66 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, analysts predict that Rexnord will post 1.75 earnings per share for the current fiscal year.
In other news, insider Craig Wehr sold 14,964 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $28.00, for a total transaction of $418,992.00. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at $630,504. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore D. Crandall acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average price of $27.84 per share, for a total transaction of $111,360.00. Following the completion of the acquisition, the director now directly owns 20,330 shares of the company’s stock, valued at $565,987.20. The disclosure for this purchase can be found here. Insiders sold 29,964 shares of company stock valued at $850,167 in the last three months. Company insiders own 4.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in RXN. Vanguard Group Inc grew its position in shares of Rexnord by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 9,090,969 shares of the industrial products company’s stock valued at $280,001,000 after acquiring an additional 141,884 shares during the period. Federated Investors Inc. PA grew its position in shares of Rexnord by 9.8% in the 3rd quarter. Federated Investors Inc. PA now owns 474,274 shares of the industrial products company’s stock valued at $14,607,000 after acquiring an additional 42,473 shares during the period. Vanguard Group Inc. grew its position in shares of Rexnord by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,090,969 shares of the industrial products company’s stock valued at $280,001,000 after acquiring an additional 141,884 shares during the period. Morgan Stanley grew its position in shares of Rexnord by 42.1% in the 3rd quarter. Morgan Stanley now owns 356,687 shares of the industrial products company’s stock valued at $10,985,000 after acquiring an additional 105,598 shares during the period. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Rexnord by 2,952.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 47,678 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 46,116 shares during the period.
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, 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, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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