Bank of America upgraded shares of Rexnord (NYSE:RXN) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat.com reports.

RXN has been the topic of a number of other reports. Oppenheimer reissued a hold rating on shares of Rexnord in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Rexnord from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Finally, TheStreet lowered shares of Rexnord from a b- rating to a c+ rating in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Rexnord currently has a consensus rating of Hold and a consensus price target of $27.00.

Rexnord (RXN) opened at $28.11 on Monday. Rexnord has a 12-month low of $20.59 and a 12-month high of $28.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. The company has a market cap of $2,840.00, a price-to-earnings ratio of 43.92, a PEG ratio of 2.10 and a beta of 1.65.

Rexnord (NYSE:RXN) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The business had revenue of $510.80 million for the quarter, compared to analysts’ expectations of $505.75 million. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. research analysts anticipate that Rexnord will post 1.25 EPS for the current year.

Several large investors have recently modified their holdings of the stock. DF Dent & Co. Inc. bought a new stake in Rexnord during the second quarter valued at $411,000. Citadel Advisors LLC bought a new stake in Rexnord during the third quarter valued at $2,505,000. Janus Henderson Group PLC bought a new stake in Rexnord during the second quarter valued at $312,466,000. BlackRock Inc. increased its stake in Rexnord by 14.4% during the second quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock valued at $163,374,000 after purchasing an additional 883,165 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Rexnord during the third quarter valued at $771,000.

ILLEGAL ACTIVITY WARNING: “Rexnord (RXN) Upgraded to “Buy” by Bank of America” was reported by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/01/12/rexnord-rxn-upgraded-to-buy-by-bank-of-america.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.

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.