Oppenheimer upgraded shares of Rexnord (NYSE:RXN) to a buy rating in a research report released on Monday, February 4th. The firm currently has $35.00 price objective on the industrial products company’s stock. Oppenheimer also issued estimates for Rexnord’s Q4 2019 earnings at $0.47 EPS and FY2019 earnings at $1.85 EPS.
Other analysts have also recently issued reports about the company. ValuEngine raised Rexnord from a hold rating to a buy rating in a report on Friday, November 16th. Zacks Investment Research raised Rexnord from a hold rating to a buy rating and set a $31.00 price target for the company in a report on Wednesday, November 21st. Credit Suisse Group reissued a neutral rating and issued a $31.00 price target on shares of Rexnord in a report on Friday, November 23rd. TheStreet raised Rexnord from a c+ rating to a b- rating in a report on Monday, December 3rd. Finally, Barclays reissued a hold rating and issued a $30.00 price target on shares of Rexnord in a report on Friday, February 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $30.88.
Shares of RXN traded up $0.45 during mid-day trading on Monday, reaching $27.12. The company’s stock had a trading volume of 556,438 shares, compared to its average volume of 640,913. The company has a market cap of $2.92 billion, a P/E ratio of 19.51, a PEG ratio of 0.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 2.87. Rexnord has a 12-month low of $21.38 and a 12-month high of $32.11.
Rexnord (NYSE:RXN) last released its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $487.19 million. During the same quarter last year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Rexnord will post 1.81 earnings per share for the current fiscal year.
In related news, Director David C. Longren acquired 3,500 shares of Rexnord stock in a transaction on Friday, February 1st. The shares were bought at an average price of $26.50 per share, for a total transaction of $92,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd A. Adams sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $28.02, for a total value of $840,600.00. Following the transaction, the chief executive officer now owns 271,792 shares in the company, valued at approximately $7,615,611.84. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc acquired a new position in shares of Rexnord in the fourth quarter worth about $25,000. NumerixS Investment Technologies Inc acquired a new position in shares of Rexnord in the fourth quarter worth about $25,000. Essex Investment Management Co. LLC bought a new stake in Rexnord in the fourth quarter valued at about $43,000. Quantamental Technologies LLC bought a new stake in Rexnord in the fourth quarter valued at about $73,000. Finally, Ibex Investors LLC bought a new stake in Rexnord in the fourth quarter valued at about $215,000.
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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