Rockwell Automation (NYSE:ROK) Given New $255.00 Price Target at Barclays

Rockwell Automation (NYSE:ROK) had its price objective boosted by Barclays from $245.00 to $255.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target points to a potential downside of 6.30% from the company’s current price.

Several other equities analysts also recently commented on ROK. Oppenheimer boosted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley initiated 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 on the stock. TD Cowen cut their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Robert W. Baird boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Bank of America increased their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and an average target price of $284.21.

Rockwell Automation Trading Down 1.8 %

Shares of ROK stock opened at $272.14 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a fifty day simple moving average of $266.92 and a two-hundred day simple moving average of $266.69. The firm has a market capitalization of $30.88 billion, a PE ratio of 30.93, a PEG ratio of 5.12 and a beta of 1.36. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company earned $3.64 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. On average, analysts predict that Rockwell Automation will post 9.65 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Rockwell Automation

A number of institutional investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at about $26,000. Richardson Financial Services Inc. raised its position in Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation during the 3rd quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter valued at $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the third quarter worth $34,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.