Brokerage Firm Rating Disclosure Update on Rexnord Corp
Resource from: Wall Street Pulse Likes:236
Feb 11,2015
In a research note released to the investors, Goldman Sachs downgrades its rating on Rexnord Corp (NYSE:RXN).The analysts at the brokerage house have a current rating of Sell on the counter. Earlier, the shares were rated a Neutral by the brokerage firm.
A number of Equity Analysts have issued recommendation on the company shares and the short term and long term price targets. Rexnord Corp (NYSE:RXN) remains a strong buy in the latest set of rankings. The counter has received an average rating of 1.44 by 9 analysts. Research Analysts at Zacks has the counter a rating of 3, which implies that the firms recommendation is Neutral on the company. It is advised that fresh investments be made in the counter only when it is undervalued.
Shares swinged both ways in the latest trading session. Rexnord Corp (NYSE:RXN) did not disappoint in the market session and closed up 0.56% or 0.15 points. The session began at $26.42, and reached the lowest point of the day at $26.34, and ended at $26.78. Maintaining a positive momentum since the opening trade, the stock climaxed at $27.34. The volume for the day stood at 929,376 shares. Each share was earlier valued at $26.63. The 52-week high of the counter is registered at $30.939 and the company has a current market cap of $2,724 million, as per the recent data. The yearly low of the shares is registered at $24.2. Shares of Rexnord Corp (NYSE:RXN) appreciated by 7.6% during the past week but lost 0.08% on a 4-week basis. The shares have outperformed the S&P 500 by 4.43% in the past week but underperformed the index by 0.59% in the past 4 weeks.
Rexnord Corporation (Rexnord) is a multi-platform industrial company. The Company comprises of two platforms, Process & Motion Control and Water Management. Rexnords Process & Motion Control product portfolio includes gears, couplings, industrial bearings, aerospace bearings and seals, FlatTop chain, engineered chain and conveying equipment, and are marketed and sold globally under brands, including Rexnord, Rex, Falk and Link-Belt. Its Water Management platform operates in the commercial construction market for water management products and the municipal water and wastewater treatment markets. Its Water Management product portfolio includes drainage products, flush valves and faucet products, backflow prevention pressure release valves, PEX piping and engineered valves and gates for the water and wastewater treatment markets. In April 2014, the Company acquired Green Turtle Technologies Ltd., Green Turtle Americas Ltd. and Filamat Composites Inc.
(Wall Street Pulse)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
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