Analysts Set Regal Rexnord Co. (NYSE:RRX) Price Target at $179.00

Regal Rexnord Co. (NYSE:RRXGet Free Report) has been given a consensus recommendation of “Buy” by the four brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $179.00.

Several brokerages have recently weighed in on RRX. Oppenheimer restated an “outperform” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Wednesday, October 4th. KeyCorp dropped their price objective on shares of Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. StockNews.com initiated coverage on shares of Regal Rexnord in a research note on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet cut shares of Regal Rexnord from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, Wolfe Research upgraded shares of Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 price objective for the company in a research report on Monday, December 11th.

Check Out Our Latest Stock Report on RRX

Insider Transactions at Regal Rexnord

In related news, Director Theodore D. Crandall acquired 2,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average price of $100.77 per share, for a total transaction of $201,540.00. Following the completion of the purchase, the director now owns 6,207 shares in the company, valued at approximately $625,479.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC boosted its stake in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Regal Rexnord by 139.1% in the 1st quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Regal Rexnord by 45.4% in the 3rd quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock valued at $40,000 after purchasing an additional 88 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at $42,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 96.67% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $139.88 on Wednesday. The company has a market cap of $9.28 billion, a PE ratio of -777.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $166.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.58 and a quick ratio of 1.59. The company has a 50-day simple moving average of $132.71 and a 200-day simple moving average of $140.06.

Regal Rexnord (NYSE:RRXGet Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.10 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.40). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Regal Rexnord had a positive return on equity of 9.92% and a negative net margin of 0.20%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 earnings per share. On average, equities analysts anticipate that Regal Rexnord will post 9.13 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, December 28th. Regal Rexnord’s dividend payout ratio is -777.78%.

About Regal Rexnord

(Get Free Report

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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