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.
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.
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