Regal Rexnord (NYSE:RRX) Earns Buy Rating from Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of Regal Rexnord (NYSE:RRX) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $215.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 27.35% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup assumed coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Robert W. Baird dropped their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays raised their price target on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Regal Rexnord Price Performance

Shares of RRX stock opened at $168.83 on Thursday. The firm’s 50 day moving average price is $171.79 and its two-hundred day moving average price is $158.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord has a 52-week low of $130.94 and a 52-week high of $185.28. The stock has a market cap of $11.18 billion, a PE ratio of 53.26, a PEG ratio of 1.84 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The business 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 firm’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $2.10 EPS. As a group, analysts forecast that Regal Rexnord will post 9.25 EPS for the current year.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’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 transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. American Trust increased its position in shares of Regal Rexnord by 11.5% during the 3rd quarter. American Trust now owns 1,797 shares of the company’s stock worth $298,000 after purchasing an additional 185 shares during the last quarter. Franklin Resources Inc. increased its holdings in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares during the last quarter. Tidal Investments LLC raised its position in Regal Rexnord by 4.8% during the third quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after acquiring an additional 347 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Regal Rexnord by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock valued at $404,000 after acquiring an additional 123 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after acquiring an additional 9,338 shares during the period. 99.72% of the stock is owned by institutional investors.

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.