Oppenheimer Believes Rockwell Automation (ROK) Still Has Room to Grow


Oppenheimer analyst Noah Kaye assigned a Buy rating to Rockwell Automation (ROK) today and set a price target of $263.00. The company’s shares closed last Monday at $254.74, close to its 52-week high of $267.48.

According to TipRanks.com, Kaye is a 5-star analyst with an average return of 10.2% and a 62.4% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Johnson Controls, Dana Holding, and Caterpillar.

Currently, the analyst consensus on Rockwell Automation is a Moderate Buy with an average price target of $245.75.

See today’s analyst top recommended stocks >>

Based on Rockwell Automation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.39 billion and net profit of $318 million. In comparison, last year the company earned revenue of $1.67 billion and had a net profit of $261 million.

Based on the recent corporate insider activity of 92 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. Most recently, in August 2020, Frank Kulaszewicz, the SVP of ROK sold 5,833 shares for a total of $1,358,272.

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.

Rockwell Automation, Inc. engages in the provision of industrial automation and information services. It operates through the following segments: Architecture and Software, and Control Products and Solutions . The Architecture and Software segment contains hardware, software, and communication components of its integrated control and information architecture which are capable of controlling the customer’s industrial processes and connecting with their business enterprise. The Control Products and Solutions segment combines a portfolio of intelligent motor control and industrial control products, application expertise, and project management capabilities. The company was founded in 1928 and is headquartered in Milwaukee, WI.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts