Rockwell Automation (ROK) Receives a Buy from Wells Fargo

In a report released yesterday, Joe O’Dea from Wells Fargo maintained a Buy rating on Rockwell Automation (ROK – Research Report), with a price target of $320.00. The company’s shares closed last Friday at $284.82.

According to TipRanks, O’Dea is a 4-star analyst with an average return of 9.0% and a 59.51% success rate. O’Dea covers the Industrials sector, focusing on stocks such as Johnson Controls, Eaton, and Lennox International.

Rockwell Automation has an analyst consensus of Hold, with a price target consensus of $289.20, implying a 1.54% upside from current levels. In a report released on April 8, Citi also maintained a Buy rating on the stock with a $322.00 price target.

Based on Rockwell Automation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.05 billion and a net profit of $215.2 million. In comparison, last year the company earned a revenue of $1.98 billion and had a net profit of $384 million

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ROK in relation to earlier this year.

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Rockwell Automation (ROK) Company Description:

Wisconsin-based Rockwell Automation, Inc. provides industrial automation and digital transformation. The company operates through three segments: Intelligent Devices, Software & Control, Lifecycle Services.