Rexnord (RXN) Given a $33.00 Price Target at Deutsche Bank

Rexnord (NYSE:RXN) has been given a $33.00 target price by stock analysts at Deutsche Bank in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Deutsche Bank’s price target would suggest a potential upside of 19.74% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on RXN. Oppenheimer reaffirmed a “hold” rating on shares of Rexnord in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Rexnord from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. TheStreet cut shares of Rexnord from a “b-” rating to a “c+” rating in a research note on Wednesday, November 15th. Finally, Bank of America raised shares of Rexnord from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.00.

Rexnord (NYSE RXN) traded down $0.07 during mid-day trading on Friday, reaching $27.56. 617,500 shares of the company traded hands, compared to its average volume of 808,967. Rexnord has a 1 year low of $21.07 and a 1 year high of $28.44. The stock has a market cap of $2,871.45, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.21 and a beta of 1.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08.

Rexnord (NYSE:RXN) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The company had revenue of $510.80 million during the quarter, compared to the consensus estimate of $505.75 million. During the same quarter in the prior year, the firm earned $0.38 EPS. Rexnord’s quarterly revenue was up 4.0% on a year-over-year basis. research analysts anticipate that Rexnord will post 1.25 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. DF Dent & Co. Inc. acquired a new stake in Rexnord in the 2nd quarter valued at about $411,000. Nordea Investment Management AB boosted its stake in shares of Rexnord by 11.0% during the 3rd quarter. Nordea Investment Management AB now owns 87,939 shares of the industrial products company’s stock worth $2,235,000 after purchasing an additional 8,744 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Rexnord during the 3rd quarter worth about $2,505,000. BlackRock Inc. boosted its stake in shares of Rexnord by 14.4% during the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock worth $163,374,000 after purchasing an additional 883,165 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Rexnord during the 2nd quarter worth about $312,466,000.

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Rexnord Company Profile

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.

Analyst Recommendations for Rexnord (NYSE:RXN)

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