Rexnord (RXN) Price Target Raised to $37.00
Rexnord (NYSE:RXN) had its price target raised by Oppenheimer from $35.00 to $37.00 in a research report released on Wednesday morning. They currently have a buy rating on the industrial products company’s stock.
A number of other brokerages have also recently issued reports on RXN. Goldman Sachs Group started coverage on Rexnord in a report on Tuesday, October 2nd. They set a neutral rating and a $31.00 price objective for the company. KeyCorp lifted their price target on shares of Rexnord from $33.00 to $34.00 and gave the company an overweight rating in a research report on Tuesday, July 31st. Finally, Bank of America lifted their price target on shares of Rexnord from $32.00 to $33.00 and gave the company a buy rating in a research report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Rexnord currently has a consensus rating of Buy and a consensus price target of $32.71.
Shares of NYSE:RXN opened at $27.13 on Wednesday. Rexnord has a 12-month low of $22.89 and a 12-month high of $32.11. The company has a market cap of $3.22 billion, a PE ratio of 19.52, a PEG ratio of 1.11 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.40 and a quick ratio of 1.62.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXN. Moors & Cabot Inc. acquired a new stake in shares of Rexnord in the first quarter valued at approximately $200,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rexnord in the first quarter valued at approximately $208,000. SG Americas Securities LLC raised its position in shares of Rexnord by 22.3% in the second quarter. SG Americas Securities LLC now owns 9,266 shares of the industrial products company’s stock valued at $269,000 after buying an additional 1,692 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Rexnord in the first quarter valued at approximately $272,000. Finally, Jane Street Group LLC acquired a new stake in shares of Rexnord in the second quarter valued at approximately $314,000.
Rexnord Company Profile
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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