Rexnord Corp. (NYSE:RXN) had its price target upped by KeyCorp from $22.00 to $24.00 in a research note issued to investors on Tuesday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 13.21% from the company’s current price.

RXN has been the subject of a number of other reports. Zacks Investment Research lowered shares of Rexnord Corp. from a “hold” rating to a “sell” rating in a report on Monday, October 17th. Robert W. Baird raised shares of Rexnord Corp. from a “neutral” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, November 8th. Finally, Barclays PLC raised shares of Rexnord Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $26.00 in a report on Monday, October 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.17.

Analyst Recommendations for Rexnord Corp. (NYSE:RXN)

Rexnord Corp. (NYSE:RXN) traded down 1.72% during midday trading on Tuesday, reaching $21.20. 543,887 shares of the company were exchanged. The company has a 50-day moving average of $19.84 and a 200 day moving average of $20.66. The firm has a market capitalization of $2.18 billion, a PE ratio of 32.27 and a beta of 1.59. Rexnord Corp. has a 52 week low of $14.04 and a 52 week high of $22.97.

Rexnord Corp. (NYSE:RXN) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Rexnord Corp. had a net margin of 3.52% and a return on equity of 25.38%. The business earned $491 million during the quarter, compared to analyst estimates of $495.47 million. During the same period last year, the firm posted $0.34 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Rexnord Corp. will post $1.37 earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Rexnord Corp. by 1.6% in the third quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the company’s stock valued at $214,000 after buying an additional 155 shares during the last quarter. Fox Run Management L.L.C. raised its position in Rexnord Corp. by 2.3% in the second quarter. Fox Run Management L.L.C. now owns 17,900 shares of the company’s stock valued at $351,000 after buying an additional 400 shares during the last quarter. California Public Employees Retirement System raised its position in Rexnord Corp. by 0.3% in the second quarter. California Public Employees Retirement System now owns 242,800 shares of the company’s stock valued at $4,766,000 after buying an additional 800 shares during the last quarter. Guggenheim Capital LLC raised its position in Rexnord Corp. by 0.5% in the second quarter. Guggenheim Capital LLC now owns 264,548 shares of the company’s stock valued at $5,194,000 after buying an additional 1,277 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Rexnord Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 175,494 shares of the company’s stock valued at $3,757,000 after buying an additional 1,600 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

Rexnord Corp. Company Profile

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.

5 Day Chart for NYSE:RXN

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