Rockwell Automation (ROK) Downgraded by Zacks Investment Research to “Sell”

Rockwell Automation (NYSE:ROK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “For fiscal 2019, Rockwell Automation expects adjusted EPS at $8.85-$9.25. The company expects that tariffs will have an unfavorable impact in second-quarter fiscal 2019. Rockwell Automation's operations will be impacted in Europe due to currency fluctuations and increasing oil prices. The company's increased spending to support growth will put pressure on margins in the near term.”

ROK has been the topic of a number of other research reports. BMO Capital Markets initiated coverage on shares of Rockwell Automation in a report on Friday, January 18th. They set an “outperform” rating and a $185.00 price target on the stock. Barclays lowered their target price on shares of Rockwell Automation from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. HSBC raised shares of Rockwell Automation from a “reduce” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $175.00 in a research note on Friday, January 25th. UBS Group downgraded shares of Rockwell Automation from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $182.00 to $190.00 in a research note on Wednesday, March 20th. Finally, Credit Suisse Group lifted their target price on shares of Rockwell Automation from $158.00 to $166.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 30th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $171.13.

Shares of NYSE:ROK traded up $1.71 during mid-day trading on Tuesday, reaching $187.71. 14,973 shares of the company’s stock were exchanged, compared to its average volume of 645,401. The firm has a market cap of $22.23 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.93 and a current ratio of 1.21. Rockwell Automation has a twelve month low of $141.46 and a twelve month high of $198.23.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.22. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Rockwell Automation had a net margin of 12.68% and a return on equity of 66.47%. Rockwell Automation’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. Sell-side analysts forecast that Rockwell Automation will post 9.02 EPS for the current year.

In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 9,231 shares of Rockwell Automation stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $177.70, for a total value of $1,640,348.70. Following the completion of the sale, the senior vice president now directly owns 34,893 shares of the company’s stock, valued at $6,200,486.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Elik I. Fooks sold 5,100 shares of Rockwell Automation stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $177.80, for a total transaction of $906,780.00. Following the completion of the sale, the insider now directly owns 15,597 shares of the company’s stock, valued at $2,773,146.60. The disclosure for this sale can be found here. 1.43% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Rockwell Automation by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 871,952 shares of the industrial products company’s stock valued at $163,510,000 after buying an additional 19,184 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Rockwell Automation by 17.5% in the third quarter. Bank of New York Mellon Corp now owns 1,106,721 shares of the industrial products company’s stock valued at $207,533,000 after buying an additional 164,984 shares in the last quarter. FMR LLC grew its stake in shares of Rockwell Automation by 24.6% in the third quarter. FMR LLC now owns 127,410 shares of the industrial products company’s stock valued at $23,892,000 after buying an additional 25,191 shares in the last quarter. Standard Life Aberdeen plc grew its stake in shares of Rockwell Automation by 8.5% in the third quarter. Standard Life Aberdeen plc now owns 53,266 shares of the industrial products company’s stock valued at $9,989,000 after buying an additional 4,161 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Rockwell Automation by 444.4% in the third quarter. Renaissance Technologies LLC now owns 14,700 shares of the industrial products company’s stock valued at $2,757,000 after buying an additional 12,000 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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