Regal Rexnord (NYSE:RRX) Downgraded by StockNews.com

Regal Rexnord (NYSE:RRX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital restated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday. Robert W. Baird lifted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Barclays reduced their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.29.

Regal Rexnord Stock Performance

Shares of RRX traded up $8.69 during mid-day trading on Thursday, reaching $174.41. The company had a trading volume of 820,700 shares, compared to its average volume of 457,940. The stock has a 50 day moving average of $155.97 and a two-hundred day moving average of $157.00. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $11.61 billion, a P/E ratio of -363.35, a PEG ratio of 1.56 and a beta of 1.04. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $2.56 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, analysts expect that Regal Rexnord will post 9.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after purchasing an additional 24,847 shares during the period. Capital World Investors grew its stake in shares of Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock valued at $1,188,615,000 after buying an additional 296,941 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after buying an additional 209,776 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after buying an additional 563,853 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after acquiring an additional 8,159 shares during the last quarter. 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.