Rexnord (RXN) Rating Increased to Outperform at UBS Group

UBS Group upgraded shares of Rexnord (NYSE:RXN) from a market perform rating to an outperform rating in a research report report published on Thursday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Rexnord from a hold rating to a strong-buy rating and set a $31.00 price objective on the stock in a report on Tuesday. ValuEngine upgraded shares of Rexnord from a hold rating to a buy rating in a report on Friday, February 2nd. KeyCorp increased their price objective on shares of Rexnord from $30.00 to $33.00 and gave the company an overweight rating in a report on Thursday, February 1st. TheStreet upgraded shares of Rexnord from a c+ rating to a b rating in a report on Friday, January 26th. Finally, Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the company a buy rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. Rexnord has an average rating of Buy and an average price target of $30.67.

Shares of Rexnord (NYSE:RXN) traded down $0.82 during mid-day trading on Thursday, hitting $25.89. 519,134 shares of the stock were exchanged, compared to its average volume of 894,194. Rexnord has a 12 month low of $21.51 and a 12 month high of $31.44. The firm has a market capitalization of $2,864.61, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.77. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.49 and a quick ratio of 1.58.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The company had revenue of $492.30 million for the quarter, compared to analyst estimates of $479.66 million. During the same period in the prior year, the business earned $0.25 earnings per share. Rexnord’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts anticipate that Rexnord will post 1.33 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC increased its stake in Rexnord by 3.2% in the second quarter. Verition Fund Management LLC now owns 20,939 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 641 shares in the last quarter. California Public Employees Retirement System increased its stake in Rexnord by 0.3% in the second quarter. California Public Employees Retirement System now owns 230,400 shares of the industrial products company’s stock valued at $5,357,000 after purchasing an additional 800 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Rexnord by 27.7% in the second quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 1,981 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Rexnord by 28.1% in the second quarter. Perigon Wealth Management LLC now owns 13,564 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in Rexnord by 75.3% in the fourth quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 3,090 shares in the last quarter.

TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.com-unik.info/2018/02/09/rexnord-rxn-rating-increased-to-outperform-at-ubs-group.html.

About Rexnord

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.

The Fly

Analyst Recommendations for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit