Regal Rexnord (NYSE:RRX) Lowered to “Buy” Rating by StockNews.com

Regal Rexnord (NYSE:RRX) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Other research analysts have also issued research reports about the company. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Barclays cut their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Citigroup decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird cut their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Loop Capital restated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $157.36 on Thursday. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The stock has a market capitalization of $10.42 billion, a P/E ratio of 49.64, a PEG ratio of 1.83 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $165.21 and its 200 day moving average is $161.12.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. On average, sell-side analysts anticipate that Regal Rexnord will post 9.24 earnings per share for the current year.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RRX. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after purchasing an additional 8,159 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Regal Rexnord in the second quarter worth $949,000. Vanguard Personalized Indexing Management LLC boosted its position in Regal Rexnord by 7.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,521 shares of the company’s stock valued at $731,000 after buying an additional 402 shares during the period. Hsbc Holdings PLC grew its stake in shares of Regal Rexnord by 342.8% during the second quarter. Hsbc Holdings PLC now owns 14,033 shares of the company’s stock valued at $1,908,000 after buying an additional 10,864 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Regal Rexnord by 159.6% during the second quarter. XTX Topco Ltd now owns 9,665 shares of the company’s stock valued at $1,307,000 after buying an additional 5,942 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.