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

StockNews.com cut shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a report released on Thursday.

Several other brokerages have also issued reports on RRX. Barclays lowered their target price on Regal Rexnord from $181.00 to $180.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Raymond James initiated coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a market perform rating on the stock. KeyCorp reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an overweight rating on the stock in a report on Monday, July 15th. Loop Capital restated a buy rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a buy rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Regal Rexnord currently has an average rating of Moderate Buy and an average price target of $191.29.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $169.67 on Thursday. The company has a market capitalization of $11.29 billion, a PE ratio of -353.48, a P/E/G ratio of 1.64 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $156.45 and a two-hundred day moving average price of $156.84. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 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 the consensus estimate of $1.51 billion. During the same period last year, the company earned $2.56 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. Analysts expect that Regal Rexnord will post 9.53 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Regal Rexnord in the first quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord during the 2nd quarter valued at $52,000. EntryPoint Capital LLC acquired a new position in Regal Rexnord during the first quarter worth $68,000. Finally, Riverview Trust Co bought a new position in shares of Regal Rexnord in the first quarter valued at $75,000. 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.