Regal Rexnord (NYSE:RRX) Stock Rating Upgraded by StockNews.com

Regal Rexnord (NYSE:RRX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other analysts have also recently issued research reports about the stock. Oppenheimer lifted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. KeyCorp increased their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Robert W. Baird increased their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Barclays dropped their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Regal Rexnord has an average rating of “Buy” and a consensus target price of $192.00.

Regal Rexnord Trading Up 0.8 %

NYSE:RRX opened at $139.66 on Tuesday. The firm has a market capitalization of $9.29 billion, a P/E ratio of -290.96, a P/E/G ratio of 1.41 and a beta of 1.10. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $155.89 and a 200 day moving average of $154.13.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. Regal Rexnord’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 earnings per share. On average, research analysts predict that Regal Rexnord will post 9.82 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently bought and sold shares of the business. Xponance Inc. boosted its holdings in Regal Rexnord by 1.2% in the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock worth $1,185,000 after purchasing an additional 91 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock worth $686,000 after purchasing an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Regal Rexnord by 3.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after purchasing an additional 102 shares during the period. Mariner LLC grew its position in Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after buying an additional 113 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Regal Rexnord by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock valued at $486,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.