Rexnord Corp (NYSE:RXN) Receives Consensus Recommendation of “Hold” from Analysts

Rexnord Corp (NYSE:RXN) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.86.

Several equities analysts have recently weighed in on RXN shares. Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Friday, July 12th.

In other Rexnord news, General Counsel Patricia M. Whaley sold 1,226 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $26.57, for a total value of $32,574.82. Following the transaction, the general counsel now owns 66,336 shares of the company’s stock, valued at approximately $1,762,547.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Troutman sold 11,845 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $29.51, for a total value of $349,545.95. Following the completion of the transaction, the insider now directly owns 46,525 shares in the company, valued at approximately $1,372,952.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 331,976 shares of company stock worth $9,269,388. Corporate insiders own 5.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in RXN. Prudential Financial Inc. grew its position in Rexnord by 3.0% in the 4th quarter. Prudential Financial Inc. now owns 86,332 shares of the industrial products company’s stock valued at $1,982,000 after acquiring an additional 2,522 shares during the last quarter. BlackRock Inc. grew its position in shares of Rexnord by 6.2% during the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock worth $180,451,000 after buying an additional 456,769 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Rexnord by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,801,632 shares of the industrial products company’s stock worth $41,347,000 after buying an additional 52,567 shares in the last quarter. Raymond James & Associates grew its position in shares of Rexnord by 36.8% during the 4th quarter. Raymond James & Associates now owns 71,839 shares of the industrial products company’s stock worth $1,649,000 after buying an additional 19,332 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Rexnord by 87.4% during the 4th quarter. Citigroup Inc. now owns 20,322 shares of the industrial products company’s stock worth $465,000 after buying an additional 9,478 shares in the last quarter.

Shares of RXN traded up $0.24 during mid-day trading on Tuesday, hitting $28.24. 477,169 shares of the stock were exchanged, compared to its average volume of 479,254. The stock has a market cap of $2.97 billion, a P/E ratio of 15.26, a PEG ratio of 1.67 and a beta of 1.57. Rexnord has a 52-week low of $21.38 and a 52-week high of $32.11. The stock has a 50-day simple moving average of $28.75. The company has a current ratio of 2.48, a quick ratio of 1.68 and a debt-to-equity ratio of 1.00.

Rexnord (NYSE:RXN) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $537.50 million for the quarter, compared to the consensus estimate of $543.89 million. Rexnord had a return on equity of 19.22% and a net margin of 1.68%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, analysts predict that Rexnord will post 1.92 EPS for the current fiscal year.

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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Analyst Recommendations for Rexnord (NYSE:RXN)

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