Regal Rexnord (NYSE:RRX) Upgraded to “Buy” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX – Free Report) from a hold rating to a buy rating in a research report released on Wednesday.

RRX has been the subject of several other research reports. KeyCorp lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays raised their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, Robert W. Baird lifted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average target price of $193.63.

Read Our Latest Stock Report on Regal Rexnord

Regal Rexnord Stock Performance

NYSE RRX opened at $177.19 on Wednesday. The firm’s fifty day moving average price is $162.96 and its two-hundred day moving average price is $156.15. The stock has a market cap of $11.79 billion, a PE ratio of -369.15, a PEG ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. Regal Rexnord’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.56 EPS. On average, equities analysts expect that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently made changes to their positions in the business. Hengehold Capital Management LLC lifted its stake in Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after buying an additional 65 shares during the period. GAMMA Investing LLC lifted its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Regal Rexnord by 2.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after acquiring an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Regal Rexnord by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after acquiring an additional 102 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in Regal Rexnord by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock worth $486,000 after purchasing an additional 113 shares during the period. Institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

(Get Free Report)

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.

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