Oppenheimer Lowers Rockwell Automation (NYSE:ROK) Price Target to $363.00

Key Points

• Oppenheimer has lowered its price target for Rockwell Automation from $371.00 to $363.00, maintaining an "outperform" rating, which indicates a potential upside of 8.71% from the stock's previous close.
• Rockwell Automation reported earnings of $2.82 per share for the last quarter, exceeding estimates and showing a 4.5% year-over-year revenue increase.
• The company's average target price now stands at $340.68, with a general consensus rating classified as "Moderate Buy" from analysts.

Rockwell Automation (NYSE:ROK - Get Free Report) had its price target lowered by Oppenheimer from $371.00 to $363.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price target points to a potential upside of 8.79% from the company's current price.

A number of other research firms also recently commented on ROK. Loop Capital increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Stephens restated an "overweight" rating and issued a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. BNP Paribas raised Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Barclays raised their price objective on Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, KeyCorp reissued an "overweight" rating and issued a $380.00 price objective (up from $370.00) on shares of Rockwell Automation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Rockwell Automation has an average rating of "Moderate Buy" and a consensus price target of $339.47.

Rockwell Automation Stock Up 0.3%

NYSE ROK traded up $1.08 during trading on Thursday, reaching $333.67. 874,648 shares of the company's stock were exchanged, compared to its average volume of 1,011,259. Rockwell Automation has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The firm has a market capitalization of $37.51 billion, a PE ratio of 39.16, a P/E/G ratio of 3.38 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company's fifty day simple moving average is $336.92 and its 200-day simple moving average is $294.22.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company posted $2.71 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation will post 9.35 EPS for the current year.

Insider Buying and Selling

In other Rockwell Automation news, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the transaction, the senior vice president directly owned 4,063 shares of the company's stock, valued at $1,325,838.16. The trade was a 8.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 939 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $304.24, for a total value of $285,681.36. Following the completion of the transaction, the senior vice president owned 983 shares of the company's stock, valued at $299,067.92. The trade was a 48.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,257 shares of company stock worth $2,990,715. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Institutional investors have recently bought and sold shares of the business. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation during the first quarter worth $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation during the first quarter worth $32,000. Cooksen Wealth LLC acquired a new stake in Rockwell Automation during the first quarter worth $34,000. Finally, Parvin Asset Management LLC acquired a new stake in Rockwell Automation during the fourth quarter worth $36,000. Institutional investors and hedge funds 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.