Regal Rexnord (NYSE:RRX) Lifted to Buy at StockNews.com

Regal Rexnord (NYSE:RRX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

A number of other research firms have also recently issued reports on RRX. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Raymond James initiated coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Robert W. Baird increased their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.29.

Regal Rexnord Trading Down 0.8 %

RRX stock traded down $1.30 during trading on Monday, hitting $165.88. The company had a trading volume of 349,122 shares, compared to its average volume of 455,552. The stock has a market cap of $11.03 billion, a PE ratio of -345.58, a PEG ratio of 1.78 and a beta of 1.04. Regal Rexnord has a one year low of $97.18 and a one year high of $183.85. The business has a 50-day moving average of $158.04 and a 200-day moving average of $156.65. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.56 EPS. Research analysts predict that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RRX. Rise Advisors LLC bought a new position in shares of Regal Rexnord during the 1st quarter worth $33,000. Headlands Technologies LLC bought a new position in shares of Regal Rexnord during the 2nd quarter worth $46,000. EntryPoint Capital LLC bought a new position in shares of Regal Rexnord during the 1st quarter worth $68,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord during the 2nd quarter worth $52,000. Finally, Riverview Trust Co bought a new position in shares of Regal Rexnord during the 1st quarter worth $75,000. Institutional investors own 99.72% of the company’s stock.

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.