Analyst Rating Update on Rexnord Corporation (RXN)

Rexnord Corporation (NYSE:RXN) : 4 brokerage houses believe that Rexnord Corporation (NYSE:RXN) is a Strong Buy at current levels. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rexnord Corporation (NYSE:RXN). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 10 Wall Street Analysts endorse the stock as a Buy with a rating of 2.3.

Rexnord Corporation (NYSE:RXN) : 8 Wall Street analysts covering Rexnord Corporation (NYSE:RXN) believe that the average level the stock could reach for the short term is $21.75. The maximum price target given is $26 and the minimum target for short term is around $16, hence the standard deviation is calculated at $2.96.

Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Baird downgrades its outlook on Rexnord Corporation (NYSE:RXN). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on June 23, 2016.

Rexnord Corporation (NYSE:RXN): stock turned positive on Tuesday. Though the stock opened at $18.94, the bulls momentum made the stock top out at $18.94 level for the day. The stock recorded a low of $18.44 and closed the trading day at $18.72, in the green by 0.97%. The total traded volume for the day was 1,024,015. The stock had closed at $18.54 in the previous days trading.

In an insider trading activity, Stroup John S, director of Rexnord Corp, unloaded 18,732 shares at an average price of $21.39 on June 8, 2016. The total amount of the transaction was worth $400,677, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Rexnord Corporation (Rexnord) 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 engineered mechanical components, such as gears and gear drives, couplings, industrial bearings, FlatTop and engineered chain, aerospace bearings and seals, under various brands, including Rexnord, Rex, Falk and Link-Belt. The Water Management platform designs, procures, manufactures and markets products that provide water quality, safety, flow control and conservation under brands, such as Zurn, Wilkins, VAG, GA, Rodney Hunt and Fontaine. The Water Management product portfolio includes specification drainage products, sensor flush valves and faucet products, pressure release valves, sluice and slide gates, butterfly and plug valves, control valves and actuation systems, and cross-linked polyethylene (PEX) piping.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.