After Robert W. Baird and Deutsche Bank gave Rexnord (NYSE: RXN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Bryan Blair assigned a Buy rating to Rexnord today and set a price target of $58.00. The company’s shares closed last Tuesday at $50.40, close to its 52-week high of $53.36.
According to TipRanks.com, Blair is a 5-star analyst with an average return of 23.7% and a 69.6% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.
Rexnord has an analyst consensus of Strong Buy, with a price target consensus of $59.67, a 22.3% upside from current levels. In a report issued on July 14, Deutsche Bank also maintained a Buy rating on the stock with a $59.00 price target.
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The company has a one-year high of $53.36 and a one-year low of $28.10. Currently, Rexnord has an average volume of 666.5K.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RXN in relation to earlier this year. Last month, George Powers, the CHRO of RXN sold 15,822 shares for a total of $804,548.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems. The Water Management segment designs, procures, manufactures and markets products for water quality, safety, flow control enhancements, and conservation. The company was founded by Christopher W. Levalley, F. W. Sivyer and W. A. Draves in 1891 and is headquartered in Milwaukee, WI.
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