Rockwell Automation’s (ROK) Underperform Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reissued their underperform rating on shares of Rockwell Automation (NYSE:ROK) in a research note released on Thursday, January 3rd, The Fly reports. They currently have a $158.00 target price on the industrial products company’s stock, down from their prior target price of $170.00.

Other equities research analysts also recently issued reports about the company. Gordon Haskett began coverage on Rockwell Automation in a report on Friday, October 12th. They set a buy rating on the stock. Zacks Investment Research reaffirmed a hold rating and set a $159.00 price objective on shares of Rockwell Automation in a report on Monday, December 31st. Stephens began coverage on Rockwell Automation in a report on Monday, November 19th. They set an overweight rating and a $200.00 price objective on the stock. Wells Fargo & Co lifted their price objective on Rockwell Automation from $205.00 to $210.00 and gave the company an outperform rating in a report on Tuesday, October 2nd. Finally, ValuEngine raised Rockwell Automation from a hold rating to a buy rating in a report on Friday, September 21st. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $172.27.

Shares of ROK opened at $155.85 on Thursday. Rockwell Automation has a 12-month low of $141.46 and a 12-month high of $209.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $18.56 billion, a P/E ratio of 19.22, a PEG ratio of 1.47 and a beta of 1.32.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.09. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 earnings per share. Analysts anticipate that Rockwell Automation will post 9.01 EPS for the current fiscal year.

In related news, CFO Patrick P. Goris sold 177 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $167.71, for a total value of $29,684.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodore D. Crandall sold 13,420 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $175.77, for a total transaction of $2,358,833.40. Following the completion of the transaction, the insider now directly owns 95,994 shares of the company’s stock, valued at $16,872,865.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,724 shares of company stock valued at $6,100,662. 1.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. acquired a new position in Rockwell Automation in the 2nd quarter worth $103,000. SRS Capital Advisors Inc. boosted its stake in shares of Rockwell Automation by 3,577.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 662 shares of the industrial products company’s stock worth $124,000 after buying an additional 644 shares during the last quarter. Fort L.P. acquired a new position in shares of Rockwell Automation during the 2nd quarter worth about $117,000. Ropes Wealth Advisors LLC boosted its stake in shares of Rockwell Automation by 200.0% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 750 shares of the industrial products company’s stock worth $141,000 after buying an additional 500 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of Rockwell Automation during the 3rd quarter worth about $149,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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