StockNews.com Upgrades Regal Rexnord (NYSE:RRX) to Buy

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

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

Regal Rexnord Trading Down 3.4 %

Shares of RRX stock opened at $137.70 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a market capitalization of $9.16 billion, a PE ratio of -286.88, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The business’s fifty day moving average is $152.96 and its 200 day moving average is $154.84.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the business posted $2.22 earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts anticipate that Regal Rexnord will post 9.82 EPS for the current fiscal year.

Institutional Trading of Regal Rexnord

Several large investors have recently modified their holdings of RRX. Norges Bank bought a new stake in shares of Regal Rexnord in the fourth quarter worth about $180,918,000. Third Point LLC bought a new stake in Regal Rexnord during the 3rd quarter valued at approximately $92,872,000. The Manufacturers Life Insurance Company boosted its position in Regal Rexnord by 167.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock valued at $140,374,000 after acquiring an additional 593,862 shares in the last quarter. Franklin Resources Inc. boosted its position in Regal Rexnord by 87.3% during the 4th quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock valued at $148,249,000 after acquiring an additional 466,820 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in Regal Rexnord during the 4th quarter valued at approximately $49,041,000. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Company Profile

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.