Rexnord Corporation (NYSE:RXN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 1st.
RXN has been the topic of several other research reports. TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Zacks Investment Research cut Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Janney Montgomery Scott initiated coverage on Rexnord Corporation in a research report on Friday, July 21st. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Rexnord Corporation currently has an average rating of “Hold” and an average target price of $24.80.
Rexnord Corporation (NYSE:RXN) opened at 23.63 on Tuesday. Rexnord Corporation has a 12-month low of $15.80 and a 12-month high of $25.50. The stock has a 50 day moving average price of $23.70 and a 200-day moving average price of $23.23. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 35.80 and a beta of 1.63.
Rexnord Corporation (NYSE:RXN) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $487.70 million for the quarter, compared to the consensus estimate of $484.20 million. Rexnord Corporation had a return on equity of 14.27% and a net margin of 4.22%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. On average, analysts predict that Rexnord Corporation will post $1.27 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Rexnord Corporation by 6.4% in the fourth quarter. AQR Capital Management LLC now owns 80,396 shares of the industrial products company’s stock valued at $1,575,000 after buying an additional 4,869 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Rexnord Corporation by 15.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,550 shares of the industrial products company’s stock valued at $461,000 after buying an additional 3,130 shares during the last quarter. Norges Bank purchased a new position in Rexnord Corporation during the fourth quarter valued at $19,414,000. Quadrature Capital Ltd purchased a new position in Rexnord Corporation during the fourth quarter valued at $967,000. Finally, UBS Asset Management Americas Inc. boosted its position in Rexnord Corporation by 6.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,550,311 shares of the industrial products company’s stock valued at $30,371,000 after buying an additional 91,039 shares during the last quarter.
About Rexnord Corporation
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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