Rockwell Automation Inc. (ROK) Lowered to Sell at Zacks Investment Research
According to Zacks, “Rockwell Automation revised its fiscal 2016 adjusted EPS guidance to $5.80–$6.00 and expects revenue to dip 7% for the full year, which includes a currency headwind of about 3% and an organic sales decline of 4%. The company lowered its sales outlook due to weaker-than-expected orders and sales performance in its solutions and services businesses in the third quarter. The acquisition of MAVERICK Technologies will enhance its domain knowledge. However, continued weakness in the mining industry and lack of major projects will continue to affect Rockwell Automation’s results in the coming quarters. Moreover, unfavorable currency translation, project delays, choppy oil prices and stiff competition remain headwinds.”
A number of other analysts also recently issued reports on the company. Credit Suisse Group AG reiterated a hold rating on shares of Rockwell Automation in a research report on Saturday, July 9th. Barclays PLC dropped their price target on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating for the company in a research report on Thursday, July 28th. Citigroup Inc. dropped their price target on Rockwell Automation from $120.00 to $118.00 and set a neutral rating for the company in a research report on Thursday, July 28th. Canaccord Genuity downgraded Rockwell Automation from a buy rating to a hold rating and set a $94.00 price target for the company. in a research report on Tuesday, July 26th. Finally, Sanford C. Bernstein upgraded Rockwell Automation from an underperform rating to a market perform rating and lifted their price target for the company from $105.00 to $121.00 in a research report on Friday, September 30th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $108.20.
Rockwell Automation (NYSE:ROK) traded up 0.435% on Tuesday, hitting $119.709. The stock had a trading volume of 66,505 shares. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 21.297 and a beta of 1.15. The company has a 50-day moving average price of $116.97 and a 200-day moving average price of $115.66. Rockwell Automation has a 1-year low of $87.53 and a 1-year high of $123.48.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, July 27th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The business earned $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $1.59 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that Rockwell Automation will post $5.90 earnings per share for the current year.
In other news, VP Steven W. Etzel sold 1,800 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $121.54, for a total value of $218,772.00. Following the completion of the transaction, the vice president now owns 8,286 shares in the company, valued at $1,007,080.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $117.03, for a total value of $80,282.58. Following the completion of the transaction, the director now owns 10,951 shares of the company’s stock, valued at approximately $1,281,595.53. The disclosure for this sale can be found here. 1.54% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ROK. Adage Capital Partners GP L.L.C. purchased a new stake in Rockwell Automation during the first quarter worth approximately $42,824,000. PGGM Investments boosted its stake in Rockwell Automation by 67.3% in the second quarter. PGGM Investments now owns 716,358 shares of the company’s stock worth $82,252,000 after buying an additional 288,050 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Rockwell Automation by 4.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 404,319 shares of the company’s stock worth $46,424,000 after buying an additional 19,000 shares during the period. Telemus Capital LLC purchased a new stake in Rockwell Automation during the second quarter worth approximately $201,000. Finally, Bank of Montreal Can purchased a new stake in Rockwell Automation during the second quarter worth approximately $30,221,000. Hedge funds and other institutional investors own 74.29% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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