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

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRXFree Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other equities analysts also recently issued reports on RRX. Robert W. Baird upped their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. KeyCorp raised 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. Oppenheimer increased their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Finally, Barclays decreased their target price on shares of Regal Rexnord from $203.00 to $199.00 and set an overweight rating on the stock in a research report on Wednesday, May 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $195.60.

Check Out Our Latest Report on RRX

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $149.54 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. The stock has a market cap of $9.95 billion, a P/E ratio of -311.54, a P/E/G ratio of 1.48 and a beta of 1.16. The stock has a 50 day moving average of $163.44 and a two-hundred day moving average of $151.88. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRXGet Free Report) last released its earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $2.22 EPS. The business’s revenue was up 26.4% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord will post 9.88 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RRX. Allspring Global Investments Holdings LLC boosted its position in Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after acquiring an additional 226,435 shares during the period. Channing Capital Management LLC grew its stake in Regal Rexnord by 7.7% in the fourth quarter. Channing Capital Management LLC now owns 84,383 shares of the company’s stock valued at $12,490,000 after purchasing an additional 6,051 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock worth $206,862,000 after buying an additional 30,688 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Regal Rexnord by 5.2% during the 4th quarter. Retirement Systems of Alabama now owns 159,126 shares of the company’s stock valued at $23,554,000 after purchasing an additional 7,935 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Regal Rexnord by 56.8% in the fourth quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after buying an additional 52,214 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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. 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.

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Analyst Recommendations for Regal Rexnord (NYSE:RRX)

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