Shares of Rexnord Corp (NYSE:RXN) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.33.
Several analysts have recently issued reports on the stock. Deutsche Bank assumed coverage on shares of Rexnord in a research report on Wednesday. They issued a “hold” rating on the stock. Zacks Investment Research lowered shares of Rexnord from a “hold” rating to a “sell” rating and set a $32.00 target price on the stock. in a research report on Monday, July 1st. Finally, Bank of America lowered shares of Rexnord from a “buy” rating to an “underperform” rating in a research report on Friday, July 12th.
Shares of NYSE RXN traded up $0.35 during trading on Friday, hitting $26.07. The company had a trading volume of 519,100 shares, compared to its average volume of 666,437. The stock has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $27.68. Rexnord has a fifty-two week low of $21.38 and a fifty-two week high of $32.11. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.50 and a beta of 1.56. The company has a quick ratio of 1.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.99.
Rexnord (NYSE:RXN) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Rexnord had a net margin of 3.97% and a return on equity of 19.57%. The business had revenue of $508.30 million for the quarter, compared to analyst estimates of $515.98 million. During the same quarter last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts anticipate that Rexnord will post 1.94 earnings per share for the current year.
In related news, insider Patricia M. Whaley sold 12,945 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $28.00, for a total transaction of $362,460.00. Following the transaction, the insider now directly owns 74,661 shares in the company, valued at $2,090,508. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Troutman sold 2,724 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $29.50, for a total transaction of $80,358.00. The disclosure for this sale can be found here. Insiders have sold 154,727 shares of company stock worth $4,358,529 over the last 90 days. 5.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. acquired a new position in Rexnord during the second quarter worth about $31,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Rexnord by 20.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 794 shares during the last quarter. Quantamental Technologies LLC boosted its position in Rexnord by 220.2% during the second quarter. Quantamental Technologies LLC now owns 6,747 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 4,640 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in Rexnord during the second quarter worth about $224,000. Finally, Ellington Management Group LLC acquired a new position in Rexnord during the second quarter worth about $224,000.
Rexnord Company Profile
Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.
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