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

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX) from a hold rating to a buy rating in a research note published on Monday morning.

A number of other equities analysts have also recently weighed in on RRX. Raymond James assumed coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a market perform rating on the stock. Barclays reduced their target price on Regal Rexnord from $181.00 to $180.00 and set an overweight rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a buy rating in a report on Friday, August 2nd. Loop Capital reiterated a buy rating and set a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Robert W. Baird increased their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $192.71.

Regal Rexnord Stock Up 0.5 %

Shares of NYSE:RRX opened at $164.61 on Monday. The company has a 50 day moving average of $158.54 and a 200-day moving average of $156.55. Regal Rexnord has a one year low of $97.18 and a one year high of $183.85. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of -343.15, a P/E/G ratio of 1.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.56 earnings per share. On average, sell-side analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio is presently -291.67%.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Regal Rexnord in the first quarter worth $33,000. Headlands Technologies LLC bought a new stake in Regal Rexnord during the 2nd quarter worth about $46,000. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord during the 1st quarter worth about $68,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord in the 2nd quarter valued at about $52,000. Finally, Riverview Trust Co bought a new position in shares of Regal Rexnord in the 1st quarter valued at about $75,000. Institutional investors and hedge funds 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.