Oppenheimer Thinks Rexnord Corporation’s Stock is Going to Recover


In a report released today, Bryan Blair from Oppenheimer reiterated a Buy rating on Rexnord Corporation (NYSE: RXN). The company’s shares opened today at $24.31, close to its 52-week low of $22.89.

According to TipRanks.com, Blair has 0 stars on 0-5 star ranking scale with an average return of -11.0% and a 12.5% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.

Currently, the analyst consensus on Rexnord Corporation is a Moderate Buy with an average price target of $34.

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Based on Rexnord Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $700K. In comparison, last year the company had a net profit of $29.8 million.

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Rexnord Corp. is engaged in the manufacturing of engineered power transmission, aerospace and other precision motion technology products. It operates through two segments: Process & Motion Control platform and Water Management.

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