Cowen Trims Rockwell Automation (NYSE:ROK) Target Price to $185.00

Rockwell Automation (NYSE:ROKGet Rating) had its price objective reduced by Cowen from $275.00 to $185.00 in a note issued to investors on Wednesday, The Fly reports. Cowen’s price target would indicate a potential downside of 13.45% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Robert W. Baird decreased their price target on shares of Rockwell Automation from $310.00 to $255.00 in a research note on Wednesday. Credit Suisse Group decreased their price target on shares of Rockwell Automation from $308.00 to $256.00 in a research note on Wednesday. Sanford C. Bernstein began coverage on shares of Rockwell Automation in a research note on Monday, January 10th. They set an “outperform” rating and a $378.00 price target on the stock. Barclays reduced their price objective on shares of Rockwell Automation from $300.00 to $220.00 in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of Rockwell Automation from $261.00 to $212.00 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $279.88.

Shares of Rockwell Automation stock opened at $213.74 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $24.84 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 2.60 and a beta of 1.41. Rockwell Automation has a 1-year low of $210.62 and a 1-year high of $354.99. The firm’s 50-day moving average price is $267.42 and its two-hundred day moving average price is $302.84.

Rockwell Automation (NYSE:ROKGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.60). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.98 billion. Rockwell Automation had a return on equity of 42.24% and a net margin of 13.81%. Rockwell Automation’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.41 earnings per share. As a group, equities research analysts predict that Rockwell Automation will post 10.51 EPS for the current year.

Rockwell Automation declared that its board has authorized a stock buyback plan on Tuesday, May 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Venture Visionary Partners LLC boosted its position in Rockwell Automation by 16.7% during the first quarter. Venture Visionary Partners LLC now owns 9,084 shares of the industrial products company’s stock worth $2,543,000 after purchasing an additional 1,303 shares during the period. Sandy Spring Bank raised its stake in Rockwell Automation by 4.0% in the first quarter. Sandy Spring Bank now owns 20,806 shares of the industrial products company’s stock valued at $5,827,000 after purchasing an additional 801 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Rockwell Automation by 81.3% during the first quarter. Metis Global Partners LLC now owns 1,835 shares of the industrial products company’s stock worth $514,000 after acquiring an additional 823 shares in the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of Rockwell Automation by 1.5% during the first quarter. Fort Pitt Capital Group LLC now owns 263,918 shares of the industrial products company’s stock worth $73,905,000 after acquiring an additional 3,828 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake in shares of Rockwell Automation by 7.0% during the first quarter. Guyasuta Investment Advisors Inc. now owns 7,518 shares of the industrial products company’s stock worth $2,105,000 after acquiring an additional 490 shares in the last quarter. Institutional investors own 78.21% of the company’s stock.

Rockwell Automation Company Profile (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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