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

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

A number of other equities research analysts have also recently issued reports on the stock. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Barclays decreased their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $203.25.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $155.07 on Wednesday. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The firm has a market cap of $10.27 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The firm’s 50-day simple moving average is $166.93 and its 200-day simple moving average is $160.56.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for 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 company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. As a group, research analysts expect that Regal Rexnord will post 9.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.

Institutional Trading of Regal Rexnord

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at about $46,000. UMB Bank n.a. grew its position in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after purchasing an additional 194 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.