Morgan Stanley Reaffirms Their Sell Rating on Rockwell Automation Inc (ROK)
Morgan Stanley analyst Joshua Pokrzywinski maintained a Sell rating on Rockwell Automation Inc (ROK) today and set a price target of $142.00. The company’s shares closed last Monday at $163.68.
According to TipRanks.com, Pokrzywinski is a 3-star analyst with an average return of 4.4% and a 53.8% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Gates Industrial Corp Plc, and Emerson Electric Company.
Currently, the analyst consensus on Rockwell Automation Inc is a Hold with an average price target of $148.60.
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Based on Rockwell Automation Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.67 billion and net profit of $261 million. In comparison, last year the company had a net profit of $346 million.
Based on the recent corporate insider activity of 7 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 ROK in relation to earlier this year.
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