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

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

RRX has been the subject of several other reports. KeyCorp increased their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Robert W. Baird increased their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Oppenheimer increased their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, Barclays decreased their price target on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $192.00.

Regal Rexnord Stock Performance

Shares of RRX opened at $136.38 on Wednesday. The stock has a 50 day moving average price of $152.12 and a 200 day moving average price of $154.59. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of -284.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. 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 quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 earnings per share. Research analysts predict that Regal Rexnord will post 9.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RRX. Cary Street Partners Investment Advisory LLC increased its position in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 150 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Regal Rexnord in the first quarter valued at $33,000. EntryPoint Capital LLC purchased a new position in shares of Regal Rexnord in the first quarter valued at $68,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord in the fourth quarter valued at $58,000. Finally, Riverview Trust Co purchased a new stake in Regal Rexnord during the 1st quarter worth about $75,000. Hedge funds and other 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.