Oppenheimer Believes Rexnord (RXN) Won’t Stop Here

Oppenheimer analyst Bryan Blair assigned a Buy rating to Rexnord (RXN) yesterday and set a price target of $44.00. The company’s shares closed last Monday at $37.51, close to its 52-week high of $39.54.

According to TipRanks.com, Blair is a 5-star analyst with an average return of 16.6% and a 69.8% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

Currently, the analyst consensus on Rexnord is a Moderate Buy with an average price target of $39.17, implying a 2.6% upside from current levels. In a report issued on November 18, KeyBanc also maintained a Buy rating on the stock with a $45.00 price target.

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Rexnord’s market cap is currently $4.61B and has a P/E ratio of 30.00. The company has a Price to Book ratio of -10.75.

Based on the recent corporate insider activity of 80 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 RXN in relation to earlier this year. Last month, Patricia Whaley, the Vice Pres.-General Counsel of RXN sold 33,849 shares for a total of $1,161,021.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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