According to Zacks, “Rockwell Automation revised its fiscal 2016 adjusted EPS guidance to $5.80–$6.00 and expects revenue to dip 7% for the full year, which includes a currency headwind of about 3% and an organic sales decline of 4%. The company lowered its sales outlook due to weaker-than-expected orders and sales performance in its solutions and services businesses in the third quarter. The acquisition of MAVERICK Technologies will enhance its domain knowledge. However, continued weakness in the mining industry and lack of major projects will continue to affect Rockwell Automation’s results in the coming quarters. Moreover, unfavorable currency translation, project delays, choppy oil prices and stiff competition remain headwinds.”
A number of other brokerages also recently issued reports on ROK. Barclays PLC cut their price target on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating on the stock in a report on Thursday, July 28th. Credit Suisse Group AG reiterated a hold rating on shares of Rockwell Automation in a report on Wednesday, June 22nd. Citigroup Inc. cut their price target on Rockwell Automation from $120.00 to $118.00 and set a neutral rating on the stock in a report on Thursday, July 28th. Sanford C. Bernstein upgraded Rockwell Automation from an underperform rating to a market perform rating and lifted their price target for the company from $105.00 to $121.00 in a report on Friday, September 30th. Finally, Canaccord Genuity downgraded Rockwell Automation from a buy rating to a hold rating and set a $94.00 price target on the stock. in a report on Tuesday, July 26th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $108.20.
Rockwell Automation (NYSE:ROK) traded up 0.435% during mid-day trading on Tuesday, reaching $119.709. The company had a trading volume of 66,505 shares. The firm has a market capitalization of $15.49 billion, a PE ratio of 21.297 and a beta of 1.15. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $123.48. The stock’s 50-day moving average price is $116.97 and its 200 day moving average price is $115.66.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. Rockwell Automation’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the business posted $1.59 EPS. On average, equities research analysts predict that Rockwell Automation will post $5.90 EPS for the current year.
In related news, VP Douglas M. Hagerman sold 3,500 shares of Rockwell Automation stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $119.01, for a total value of $416,535.00. Following the completion of the transaction, the vice president now owns 32,727 shares in the company, valued at approximately $3,894,840.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Frank C. Kulaszewicz sold 9,267 shares of Rockwell Automation stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $118.11, for a total value of $1,094,525.37. Following the completion of the transaction, the senior vice president now owns 27,607 shares of the company’s stock, valued at approximately $3,260,662.77. The disclosure for this sale can be found here. Company insiders own 1.54% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Tredje AP fonden raised its position in shares of Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock valued at $100,000 after buying an additional 630 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock valued at $108,000 after buying an additional 891 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Rockwell Automation during the first quarter valued at $110,000. Finally, Citizens Financial Group Inc RI raised its position in shares of Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock valued at $153,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rockwell Automation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.