Oppenheimer analyst Bryan Blair assigned a Buy rating to Rexnord (RXN) today and set a price target of $54.00. The company’s shares closed last Tuesday at $50.21, close to its 52-week high of $51.54.
According to TipRanks.com, Blair is a 5-star analyst with an average return of 27.1% and a 73.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rexnord with a $53.80 average price target, implying a 6.5% upside from current levels. In a report issued on April 13, Deutsche Bank also maintained a Buy rating on the stock with a $54.00 price target.
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The company has a one-year high of $51.54 and a one-year low of $23.97. Currently, Rexnord has an average volume of 690.1K.
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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.
