Rockwell Automation (NYSE:ROK) Price Target Raised to $270.00 at Mizuho

Rockwell Automation (NYSE:ROK) had its price target raised by Mizuho from $245.00 to $270.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

ROK has been the subject of a number of other research reports. Bank of America lowered their target price on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays lowered their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen reduced their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Finally, Oppenheimer boosted their price objective on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Stock Up 0.1 %

Shares of Rockwell Automation stock opened at $272.82 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a market cap of $31.10 billion, a P/E ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. The company’s fifty day simple moving average is $264.95 and its two-hundred day simple moving average is $267.50.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $3.01 earnings per share. Rockwell Automation’s quarterly revenue was down 8.4% on a year-over-year basis. Research analysts anticipate that Rockwell Automation will post 9.67 EPS for the current year.

Rockwell Automation announced that its board has approved a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in Rockwell Automation during the 1st quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of Rockwell Automation during the first quarter valued at approximately $28,000. ESL Trust Services LLC bought a new position in Rockwell Automation during the first quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in Rockwell Automation in the second quarter worth approximately $36,000. Finally, Webster Bank N. A. bought a new stake in Rockwell Automation in the 1st quarter worth approximately $44,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.