Analysts at Barclays assumed coverage on shares of Rexnord (NYSE:RXN) in a report issued on Thursday, The Fly reports. The firm set an “equal weight” rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on the stock. UBS Group raised shares of Rexnord from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 8th. KeyCorp boosted their price objective on shares of Rexnord from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer raised shares of Rexnord from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Thursday, February 8th. TheStreet raised shares of Rexnord from a “c+” rating to a “b” rating in a research note on Friday, January 26th. Finally, Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the company a “buy” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Rexnord has a consensus rating of “Buy” and an average price target of $30.67.

Shares of Rexnord (NYSE:RXN) opened at $27.43 on Thursday. The company has a market cap of $2,820.94, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company has a quick ratio of 1.58, a current ratio of 2.49 and a debt-to-equity ratio of 1.05. Rexnord has a 12 month low of $21.51 and a 12 month high of $31.44.

Rexnord (NYSE:RXN) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.10. The firm had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $479.66 million. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. Rexnord’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. equities analysts anticipate that Rexnord will post 1.33 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Rexnord by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock valued at $360,250,000 after buying an additional 738,129 shares during the period. BlackRock Inc. lifted its holdings in shares of Rexnord by 14.5% during the 4th quarter. BlackRock Inc. now owns 8,162,025 shares of the industrial products company’s stock valued at $212,376,000 after acquiring an additional 1,031,304 shares in the last quarter. Impax Asset Management LTD lifted its holdings in shares of Rexnord by 14.9% during the 4th quarter. Impax Asset Management LTD now owns 3,682,376 shares of the industrial products company’s stock valued at $95,815,000 after acquiring an additional 478,604 shares in the last quarter. Channing Capital Management LLC lifted its holdings in shares of Rexnord by 18.4% during the 4th quarter. Channing Capital Management LLC now owns 2,817,990 shares of the industrial products company’s stock valued at $73,335,000 after acquiring an additional 438,205 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rexnord by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,665,666 shares of the industrial products company’s stock valued at $67,735,000 after acquiring an additional 73,216 shares in the last quarter.

ILLEGAL ACTIVITY WARNING: This story was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://theolympiareport.com/2018/02/15/rexnord-rxn-now-covered-by-barclays.html.

About Rexnord

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.

The Fly

Analyst Recommendations for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.