According to Zacks, “Rockwell Automation revised its fiscal 2016 adjusted EPS guidance to $5.80–$6.00 and expects revenue to dip 7% for the full year, which includes a currency headwind of about 3% and an organic sales decline of 4%. The company lowered its sales outlook due to weaker-than-expected orders and sales performance in its solutions and services businesses in the third quarter. The acquisition of MAVERICK Technologies will enhance its domain knowledge. However, continued weakness in the mining industry and lack of major projects will continue to affect Rockwell Automation’s results in the coming quarters. Moreover, unfavorable currency translation, project delays, choppy oil prices and stiff competition remain headwinds.”
A number of other equities analysts also recently weighed in on ROK. Barclays PLC dropped their target price on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating on the stock in a report on Thursday, July 28th. Canaccord Genuity downgraded Rockwell Automation from a buy rating to a hold rating and set a $94.00 target price on the stock. in a report on Tuesday, July 26th. Credit Suisse Group AG reiterated a hold rating on shares of Rockwell Automation in a report on Saturday, July 9th. Sanford C. Bernstein upgraded Rockwell Automation from an underperform rating to a market perform rating and upped their target price for the company from $105.00 to $121.00 in a report on Friday, September 30th. Finally, Citigroup Inc. dropped their target price on Rockwell Automation from $120.00 to $118.00 and set a neutral rating on the stock in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $108.19.
Shares of Rockwell Automation (NYSE:ROK) opened at 119.70 on Tuesday. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 21.30 and a beta of 1.15. Rockwell Automation has a 1-year low of $87.53 and a 1-year high of $123.48. The stock’s 50 day moving average is $117.10 and its 200-day moving average is $115.78.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. On average, analysts anticipate that Rockwell Automation will post $5.90 EPS for the current year.
In other Rockwell Automation news, Director William T. Jr/Wi Mccormick sold 686 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $117.03, for a total transaction of $80,282.58. Following the completion of the transaction, the director now directly owns 10,951 shares in the company, valued at $1,281,595.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven W. Etzel sold 1,800 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $121.54, for a total value of $218,772.00. Following the transaction, the vice president now owns 8,286 shares of the company’s stock, valued at $1,007,080.44. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tredje AP fonden raised its position in Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock valued at $100,000 after buying an additional 630 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Johnson Financial Group Inc. raised its position in Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock valued at $108,000 after buying an additional 891 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Rockwell Automation during the first quarter valued at about $110,000. Finally, Citizens Financial Group Inc RI raised its position in Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock valued at $153,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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