Rexnord Corporation (NYSE: RXN) is 15.83% higher on its value in year-to-date trading and has touched a low of $18.87 and a high of $44.94 in the current 52-week trading range. The RXN stock was last observed hovering at around $44.44 in the last trading session, with the day’s gains setting it 1.3% off its average median price target of $44.00 for the next 12 months. It is also 16.84% off the consensus price target high of $55.00 offered by 9 analysts, but current levels are -27.06% lower than the price target low of $36.00 for the same period.
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Currently trading at $45.74, the stock is 16.44% and 21.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.38 million and changing 2.93% at the moment leaves the stock 47.79% off its SMA200. RXN registered 42.58% gain for a year compared to 6-month gain of 60.66%. The firm has a 50-day simple moving average (SMA 50) of $38.88 and a 200-day simple moving average (SMA200) of $32.84.
The stock witnessed a 20.43% loss in the last 1 month and extending the period to 3 months gives it a 43.16%, and is 18.13% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.76% over the week and 3.48% over the month.
Rexnord Corporation (RXN) has around 6800 employees, a market worth around $5.45B and $1.98B in sales. Current P/E ratio is 36.33 and Fwd P/E is 22.60. Profit margin for the company is 7.80%. Distance from 52-week low is 142.40% and 1.78% from its 52-week high. The company has generated returns on investments over the last 12 months (10.10%).
Rexnord Corporation (RXN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Rexnord Corporation (RXN) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Rexnord Corporation is expected to release its quarterly report on 08/02/2021 and quarterly earnings per share for the current quarter are estimated at $0.38 with sales reaching $448.97M over the same period.The EPS is expected to shrink by -0.20% this year, but quarterly earnings will post -10.60% year-over-year.
Rexnord Corporation (RXN) Top Institutional Holders
334 institutions hold shares in Rexnord Corporation (RXN), with 1.01M shares held by insiders accounting for 0.84% while institutional investors hold 105.86% of the company’s shares. The shares outstanding are 120.70M, and float is at 119.27M with Short Float at 1.14%. Institutions hold 104.97% of the Float.
The top institutional shareholder in the company is Janus Henderson Group PLC with over 11.26 million shares valued at $336.03 million. The investor’s holdings represent 9.36% of the RXN Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 9.99 million shares valued at $298.18 million to account for 8.31% of the shares outstanding. The other top investors are Blackrock Inc. which holds 8.89 million shares representing 7.39% and valued at over $265.33 million, while Wellington Management Company, LLP holds 7.34% of the shares totaling 8.83 million with a market value of $263.47 million.
Rexnord Corporation (RXN) Insider Activity
A total of 19 insider transactions have happened at Rexnord Corporation (RXN) in the last six months, with sales accounting for 8 and purchases happening 11 times. The most recent transaction is an insider sale by Powers George J, the company’s Chief Human Resources Officer. SEC filings show that Powers George J sold 500 shares of the company’s common stock on Nov 24 at a price of $39.50 per share for a total of $19750.0. Following the sale, the insider now owns 36294.0 shares.
Rexnord Corporation disclosed in a document filed with the SEC on Nov 10 that Zaba Kevin J (Group Ex., President-PMC) sold a total of 64,115 shares of the company’s common stock. The trade occurred on Nov 10 and was made at $37.06 per share for $2.38 million. Following the transaction, the insider now directly holds 50662.0 shares of the RXN stock.
Still, SEC filings show that on Nov 09, Whaley Patricia M (Vice Pres.-General Counsel) disposed off 21,511 shares at an average price of $37.30 for $0.8 million. The insider now directly holds 76,967 shares of Rexnord Corporation (RXN).
Rexnord Corporation (RXN): Who are the competitors?
The company’s main competitors (and peers) include NN Inc. (NNBR) that is trading -23.62% down over the past 12 months. Altra Industrial Motion Corp. (AIMC) is 80.55% up on the 1-year trading charts. Short interest in the company’s stock has fallen -7.35% from the last report on Nov 12, 2020 to stand at a total of 1.46 million short shares sold with a short interest ratio of 2.3.