Regal Rexnord (NYSE:RRX) Upgraded by StockNews.com to “Buy”

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

Several other equities research analysts also recently issued reports on RRX. Barclays cut their price target on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird increased their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $191.29.

Regal Rexnord Stock Performance

Shares of RRX opened at $163.73 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The firm has a 50-day moving average of $158.30 and a 200-day moving average of $156.62. The company has a market cap of $10.89 billion, a PE ratio of -341.85, a price-to-earnings-growth 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.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in Regal Rexnord in the 2nd quarter valued at approximately $46,000. 1620 Investment Advisors Inc. bought a new stake in shares of Regal Rexnord during the second quarter worth $52,000. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord during the first quarter worth $68,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord during the first 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.