Regal Rexnord Co. (NYSE:RRX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $191.29.

Several analysts have commented on RRX shares. KeyCorp lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday. Finally, Raymond James initiated coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating on the stock.

Regal Rexnord Stock Down 2.6 %

RRX opened at $169.67 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The company’s 50-day moving average is $156.45 and its 200 day moving average is $156.84. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm has a market capitalization of $11.29 billion, a P/E ratio of -353.48, a PEG ratio of 1.64 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $2.56 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. Research analysts expect that Regal Rexnord will post 9.53 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s payout ratio is -291.67%.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in Regal Rexnord during the first quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new position in Regal Rexnord during the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord during the second quarter valued at approximately $52,000. EntryPoint Capital LLC purchased a new position in Regal Rexnord during the first quarter valued at approximately $68,000. Finally, Riverview Trust Co purchased a new position in Regal Rexnord during the first quarter valued at approximately $75,000. 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.