Regal Rexnord (NYSE:RRX) Sets New 1-Year Low Following Analyst Downgrade

Shares of Regal Rexnord Co. (NYSE:RRX) hit a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $176.00 to $160.00. Barclays currently has an overweight rating on the stock. Regal Rexnord traded as low as $117.05 and last traded at $119.03, with a volume of 253446 shares traded. The stock had previously closed at $122.62.

A number of other equities analysts have also recently issued reports on RRX. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $195.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares during the period. iA Global Asset Management Inc. raised its holdings in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after buying an additional 68 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after buying an additional 77 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock worth $332,000 after buying an additional 85 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

The stock has a fifty day moving average of $145.90 and a two-hundred day moving average of $159.42. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

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.