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Is Rockwell Automation a Buy?

TheMotleyFool

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A look at the price chart of Rockwell Automation (NYSE: ROK) almost suggests the COVID-19 pandemic never really happened. At the time of writing, the stock is up nearly 15% in 2020. What's going on, and can the stock's recent strong run continue?

The market seems to be in generous mode when it comes to Rockwell. After a 92% rise since its low point in March, the stock now trades on some pretty rich-looking valuations. In a nutshell, investors are buying into the idea that the company is set for an extended recovery in its end markets.

Weakness in heavy industries capital spending is hurting Rockwell Automation's process automation sales. Image source: Getty Images.

Source Fool.com

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