Rexnord (RXN) Hold Rating Reiterated by Analysts at Deutsche Bank; With $33.0000 Target; Meggitt PLC (LON:MGGT) Covered By 1 Bullish Analysts Last Week

Rexnord Corporation (NYSE:RXN) Logo

Among 2 analysts covering Meggitt PLC (LON:MGGT), 1 have Buy rating, 1 Sell and 0 Hold. Therefore 50% are positive. Meggitt PLC has GBX 736 highest and GBX 525 lowest target. GBX 630.50’s average target is -1.52% below currents GBX 640.2 stock price. Meggitt PLC had 7 analyst reports since June 21, 2019 according to SRatingsIntel. The firm has “Underperform” rating by Credit Suisse given on Wednesday, November 13. The rating was maintained by Goldman Sachs on Thursday, August 8 with “Buy”. On Friday, July 12 the stock rating was upgraded by Goldman Sachs to “Buy”. The rating was maintained by Goldman Sachs on Friday, November 15 with “Buy”. See Meggitt PLC (LON:MGGT) latest ratings:

15/11/2019 Broker: Goldman Sachs Rating: Buy Old Target: GBX 679.00 New Target: GBX 736.00 Maintain
13/11/2019 Broker: Credit Suisse Rating: Underperform Old Target: GBX 465.00 New Target: GBX 525.00 Maintain
17/10/2019 Broker: Credit Suisse Rating: Underperform Old Target: GBX 465.00 Maintain
12/09/2019 Broker: UBS Rating: Sell Old Target: GBX 494.00 Maintain
08/08/2019 Broker: Goldman Sachs Rating: Buy Old Target: GBX 689.00 New Target: GBX 711.00 Maintain
12/07/2019 Broker: Goldman Sachs Rating: Buy Old Target: GBX 592.00 New Target: GBX 662.00 Upgrade
21/06/2019 Broker: UBS Rating: Sell Maintain

Deutsche Bank have a $33.0000 target price on the stock. The target price would indicate a potential upside of 6.87% from Rexnord (NYSE:RXN)‘s current price. This rating was disclosed to clients in an analyst note on Wednesday morning.

Among 3 analysts covering Rexnord Corporation Common Stock (NYSE:RXN), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Rexnord Corporation Common Stock has $31 highest and $2900 lowest target. $30.33’s average target is -1.78% below currents $30.88 stock price. Rexnord Corporation Common Stock had 6 analyst reports since July 12, 2019 according to SRatingsIntel. The firm has “Hold” rating given on Thursday, October 31 by Deutsche Bank. The stock of Rexnord Corporation (NYSE:RXN) has “Hold” rating given on Thursday, October 31 by Credit Suisse. The stock of Rexnord Corporation (NYSE:RXN) has “Neutral” rating given on Tuesday, September 3 by Robert W. Baird.

Investors sentiment decreased to 0.88 in 2019 Q2. Its down 0.14, from 1.02 in 2019Q1. It is negative, as 23 investors sold Rexnord Corporation shares while 61 reduced holdings. 29 funds opened positions while 57 raised stakes. 104.00 million shares or 1.66% more from 102.31 million shares in 2019Q1 were reported. Invesco Ltd, a Georgia-based fund reported 2.02M shares. American Century Incorporated reported 29,173 shares stake. Spark Invest Management accumulated 0.07% or 34,400 shares. First Advisors L P reported 404,611 shares. 597 are held by First Interstate Bancorp. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0.04% in Rexnord Corporation (NYSE:RXN). Essex Limited Liability, a Massachusetts-based fund reported 1,876 shares. Tokio Marine Asset Company Limited has invested 0.04% in Rexnord Corporation (NYSE:RXN). Washington Cap Management Incorporated invested in 13,000 shares. Neuberger Berman Grp Inc Llc invested in 75,900 shares or 0% of the stock. State Of Wisconsin Investment Board reported 466,200 shares stake. Rice Hall James And Lc holds 0.51% of its portfolio in Rexnord Corporation (NYSE:RXN) for 510,764 shares. Westwood Gp accumulated 19,535 shares. Cornercap Counsel owns 0.14% invested in Rexnord Corporation (NYSE:RXN) for 36,040 shares. Alyeska Invest Gp Lp invested in 92,766 shares.

Analysts await Rexnord Corporation (NYSE:RXN) to report earnings on January, 29. They expect $0.44 EPS, down 6.38% or $0.03 from last year’s $0.47 per share. RXN’s profit will be $46.61 million for 17.55 P/E if the $0.44 EPS becomes a reality. After $0.51 actual EPS reported by Rexnord Corporation for the previous quarter, Wall Street now forecasts -13.73% negative EPS growth.

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company has market cap of $3.27 billion. The firm operates in two divisions, Process & Motion Control Platform and Water Management Platform. It has a 21.62 P/E ratio. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

More notable recent Rexnord Corporation (NYSE:RXN) news were published by: Bizjournals.com which released: “Future of Komatsu, Rexnord land addressed in West Milwaukee 20-year plan – Milwaukee – Milwaukee Business Journal” on December 03, 2019, also Benzinga.com with their article: “Stocks That Hit 52-Week Highs On Friday – Benzinga” published on November 29, 2019, Businesswire.com published: “Rexnord Announces Conversion Rate for 5.75% Series A Mandatory Convertible Preferred Stock – Business Wire” on November 14, 2019. More interesting news about Rexnord Corporation (NYSE:RXN) were released by: Finance.Yahoo.com and their article: “Is There More To Rexnord Corporation (NYSE:RXN) Than Its 11% Returns On Capital? – Yahoo Finance” published on October 08, 2019 as well as Finance.Yahoo.com‘s news article titled: “Here’s Why Rexnord (NYSE:RXN) Can Manage Its Debt Responsibly – Yahoo Finance” with publication date: August 12, 2019.

The stock increased 0.60% or $0.18 during the last trading session, reaching $30.88. About 345,884 shares traded. Rexnord Corporation (NYSE:RXN) has declined 1.94% since December 4, 2018 and is downtrending. It has underperformed by 1.94% the S&P500. Some Historical RXN News: 14/05/2018 – Rexnord Sees FY Net $129M-Net $143M; 14/05/2018 – REXNORD CORP – EXPECT FISCAL 2019 GAAP NET INCOME TO BE IN A RANGE OF $129 MLN TO $143 MLN; 14/05/2018 – Rexnord Sees FY Adjusted EBITDA $420M-$440M; 14/05/2018 – REXNORD SEES 2019 ADJ EBITDA $420M TO $440M; 12/03/2018 Rexnord Non-Deal Roadshow Scheduled By SunTrust for Mar. 19-20; 14/05/2018 – Rexnord 4Q Loss/Shr 65c; 17/05/2018 – Rexnord Company Marketing Scheduled By Janney for May. 24; 14/05/2018 – REXNORD CORP – FISCAL 2019 OUTLOOK EXCLUDES CO’S VAG OPERATIONS; 24/05/2018 – Rexnord working with Baird on VAG water divest; 14/05/2018 – REXNORD CORP – ANTICIPATE DIVESTING NON-STRATEGIC VAG OPERATIONS THAT SERVE GLOBAL WATER AND WASTEWATER INFRASTRUCTURE END MARKETS

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. The company has market cap of 4.98 billion GBP. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group divisions. It has a 34.61 P/E ratio. The Meggitt Aircraft Braking Systems segment offers anti-skid, auto braking, brake-by-wire, and integrated brake metering/anti-skid brake control systems; carbon, rotor, electrically-actuated, and steel brakes; integrated tire pressure indicator systems/brake temperature monitoring systems; and landing gear computers, park/emergency valves, auto spoiler deployment, other braking system hydraulic components, main and nose wheels, and tire pressure monitoring systems.

Rexnord Corporation (NYSE:RXN) Institutional Positions Chart

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