Rexnord Corp (RXN) is Downgraded by Robert W. Baird to Neutral, Price Target at $22

Rexnord Corp (RXN) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $22. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Jun 23, 2016.

On the company’s financial health, Rexnord Corp reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $0.36. The company had revenue of $460.20 million for the quarter, compared to analysts expectations of $461.99 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Rexnord Corp closed down -0.83 points or -3.74% at $21.35 with 9,05,359 shares getting traded on Tuesday. Post opening the session at $22.15, the shares hit an intraday low of $21.34 and an intraday high of $22.15 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 10, 2016, John S Stroup (director) sold 18,732 shares at $21.39 per share price. According to the SEC, on May 4, 2016, Todd A. Adams (President & CEO) sold 25,000 shares at $21.81 per share price. On Feb 8, 2016, Paul W Jones (director) purchased 20,000 shares at $17.15 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Rexnord Corp

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