Rexnord Corporation (NYSE:RXN) registered a -0.55% decrease, still its new closing price is 43.12% up from the company’s 1 year high of 22.97.It posted -2.33% losses in previous 5 sessions and is now the subject of 2 analysts who together assign a hold rating on stock. 2 of Wall Street analysts have an underperform rating; the 0 sells versus 1 buy or better ratings. The 10 stock analysts following this company have an average price target at $22.00, with individual PT in the $17.00-$26.00 range. The shares moved at $21.84, implying that brokerage firms see shares gaining about 31.96% in twelve months time.
Rexnord Corporation (RXN) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a 11.49% rise year to date. A Group Ex., President-Zurn at Rexnord Corporation (RXN) offloaded shares in a transaction closed on Tuesday September 06, 2016. Wehr Craig sold 256 shares in the company at $21.76 each and collected $5,001 in proceeds. Wehr Craig now owns 4,923 shares in the company after this transaction. A Director in the company, Longren David C., disclosed a transaction on Thursday August 11, 2016 that ended up paying $42,001 from the purchase of 2,000 shares at $21.39 per share.
Rexnord Corporation (NYSE:RXN) Upcoming Results on Tap
Rexnord Corporation will next provide financial results for the June 2017 quarter. Stock analysts expect it to report per-share earnings of $0.32 in that period. Sales during the quarter are predicted to arrive at $486.74 million.
Earnings surprise history: Last quarter, the company posted approximately $451.8 million in revenue and EPS of $0.25. The mean forecast was for $456.62 million and $0.24 a share, respectively. One quarter earlier, revenue for the stock was at $491 million, with earnings at $0.38/share.
Rexnord Corporation (RXN) Brokerage Update
Rexnord Corporation (RXN) is in Robert W. Baird’s research list so their analyst rating change is noteworthy. These shares were upgraded to Outperform from Neutral by Robert W. Baird, according to news reported on Tuesday November 08, 2016.Another important research note was issued by Barclays on Monday October 24, 2016.The firm upgraded RXN to Overweight from Equal Weight. Over the last six months and over the last three months, the shares of Rexnord Corporation (RXN), have changed 4.65% and 12.35%, respectively.