Rexnord Corp (RXN) Receives $32.71 Consensus Target Price from Analysts

Shares of Rexnord Corp (NYSE:RXN) have received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $32.63.

Several equities analysts have recently commented on RXN shares. Goldman Sachs Group started coverage on Rexnord in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $31.00 price objective on the stock. Oppenheimer increased their price objective on Rexnord from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. ValuEngine lowered Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. TheStreet lowered Rexnord from a “b” rating to a “c+” rating in a research report on Thursday, October 25th. Finally, Zacks Investment Research reiterated a “buy” rating and set a $30.00 price objective on shares of Rexnord in a research report on Thursday, November 15th.

In related news, Director Theodore D. Crandall purchased 4,000 shares of Rexnord stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average cost of $27.84 per share, for a total transaction of $111,360.00. Following the transaction, the director now directly owns 20,330 shares in the company, valued at $565,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Wehr sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $28.50, for a total value of $213,750.00. Following the transaction, the insider now owns 15,054 shares in the company, valued at $429,039. The disclosure for this sale can be found here. Insiders have sold a total of 29,964 shares of company stock worth $850,167 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of RXN. FMR LLC grew its position in Rexnord by 21.2% during the 2nd quarter. FMR LLC now owns 6,238,342 shares of the industrial products company’s stock worth $181,286,000 after acquiring an additional 1,089,253 shares during the last quarter. Capital International Investors bought a new position in Rexnord during the 3rd quarter worth approximately $30,954,000. Glenmede Trust Co. NA grew its position in Rexnord by 216,331.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 976,106 shares of the industrial products company’s stock worth $30,063,000 after acquiring an additional 975,655 shares during the last quarter. Robecosam AG grew its position in Rexnord by 117.9% during the 3rd quarter. Robecosam AG now owns 832,367 shares of the industrial products company’s stock worth $25,787,000 after acquiring an additional 450,429 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in Rexnord by 18,706.7% during the 2nd quarter. Federated Investors Inc. PA now owns 431,801 shares of the industrial products company’s stock worth $12,548,000 after acquiring an additional 429,505 shares during the last quarter.

NYSE RXN traded down $0.82 during trading on Monday, reaching $25.62. The company’s stock had a trading volume of 448,736 shares, compared to its average volume of 363,868. The firm has a market capitalization of $2.77 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a quick ratio of 1.50, a current ratio of 2.23 and a debt-to-equity ratio of 1.17. Rexnord has a one year low of $23.75 and a one year high of $32.11.

Rexnord (NYSE:RXN) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.66 million. Rexnord had a positive return on equity of 16.99% and a negative net margin of 0.89%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, research analysts anticipate that Rexnord will post 1.75 EPS for the current fiscal year.

About Rexnord

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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Analyst Recommendations for Rexnord (NYSE:RXN)

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