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

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

Several other equities analysts have also recently weighed in on the company. TD Cowen dropped their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer raised their price target on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, Barclays reduced their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $286.47.

Rockwell Automation Trading Up 0.1 %

NYSE:ROK opened at $272.82 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation has a one year low of $242.81 and a one year high of $312.76. The company has a market cap of $31.10 billion, a PE ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. The firm has a 50-day moving average of $264.95 and a 200-day moving average of $267.59.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $3.01 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that Rockwell Automation will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a share buyback plan on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Rockwell Automation

Large investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation in the first quarter worth $26,000. Riverview Trust Co purchased a new position in shares of Rockwell Automation in the first quarter valued at about $28,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation during the first quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the second quarter worth about $36,000. Finally, Webster Bank N. A. bought a new stake in shares of Rockwell Automation in the first quarter worth about $44,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Rockwell Automation

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.