Regal Rexnord (NYSE:RRX – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.
RRX has been the subject of several other research reports. Raymond James assumed coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Robert W. Baird boosted their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Oppenheimer raised their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Barclays cut their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.00.
Regal Rexnord Price Performance
Regal Rexnord stock traded up $1.79 on Thursday, reaching $135.65. The company’s stock had a trading volume of 212,571 shares, compared to its average volume of 444,051. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a market cap of $9.02 billion, a price-to-earnings ratio of -282.60, a PEG ratio of 1.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The business’s fifty day moving average price is $149.24 and its 200 day moving average price is $154.46.
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. Equities analysts expect that Regal Rexnord will post 9.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Regal Rexnord in the first quarter valued at about $33,000. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord in the 1st quarter valued at approximately $68,000. GAMMA Investing LLC bought a new stake in Regal Rexnord during the 4th quarter worth approximately $58,000. Riverview Trust Co acquired a new stake in Regal Rexnord during the 1st quarter worth approximately $75,000. Finally, ICA Group Wealth Management LLC bought a new position in Regal Rexnord in the fourth quarter valued at approximately $70,000. Institutional investors own 99.72% of the company’s stock.
About Regal Rexnord
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.