Regal Rexnord (NYSE:RRX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX – Free Report) from a buy rating to a strong-buy rating in a research report released on Sunday.

Other analysts also recently issued reports about the company. Robert W. Baird lifted their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an “overweight” rating in a research report on Thursday, June 26th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Citigroup reaffirmed a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Barclays upped their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $185.25.

Check Out Our Latest Stock Analysis on RRX

Regal Rexnord Stock Down 1.2%

NYSE:RRX opened at $151.17 on Friday. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The stock has a fifty day simple moving average of $148.28 and a 200-day simple moving average of $132.16. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX – Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Analysts anticipate that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord’s dividend payout ratio is 37.23%.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of RRX. Tower Research Capital LLC TRC increased its holdings in shares of Regal Rexnord by 179.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the company’s stock valued at $598,000 after acquiring an additional 2,473 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Regal Rexnord by 8.6% during the fourth quarter. Stifel Financial Corp now owns 65,995 shares of the company’s stock valued at $10,238,000 after acquiring an additional 5,245 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Regal Rexnord by 114.1% in the 4th quarter. Hsbc Holdings PLC now owns 5,390 shares of the company’s stock worth $835,000 after buying an additional 2,873 shares during the period. Pinebridge Investments L.P. increased its holdings in Regal Rexnord by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company’s stock worth $2,951,000 after buying an additional 5,693 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Regal Rexnord by 8.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,477 shares of the company’s stock worth $7,210,000 after buying an additional 3,620 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Company Profile

(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.

Further Reading