In a report released today, Noah Kaye from Oppenheimer maintained a Hold rating on Rockwell Automation Inc (ROK). The company’s shares opened today at $174.90.
Kaye said:
“ROK delivered another quarter of solid results as strong earnings conversion offset a slightly weaker than expected top line. With the growth drivers into FY19 broadly similar to 2H18, ROK’s FY19 guidance assumed more of the same, with growth led by Consumer and Heavy Industry. Although tariffs are expected to have a net neutral impact on ROK’s bottom line in FY19, management is not assuming any demand impact, and retains an upbeat outlook for mining, O&G and semi. We see ROK continuing to drive best-in-class productivity while maintaining its commitment to growth investments. We look to next week’s Investor Day for updates on Connected Enterprise adoption and potential catalysts from M&A and the strategic partnership with PTC.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 4.1% and a 53.5% success rate. Kaye covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Waste Connections Inc, and Republic Services.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Rockwell Automation Inc with a $172.67 average price target.
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Rockwell Automation Inc’s market cap is currently $21.31B and has a P/E ratio of 57.49. The company has a Price to Book ratio of 15.10.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Susan Schmitt, the Sr. VP, HR of ROK sold 4,500 shares for a total of $787,590.
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Rockwell Automation, Inc. engages in the provision of industrial automation and information. It operates through the Architecture and Software, and Control Products and Solutions segments.
