Regal Rexnord (NYSE:RRX) Raised to Strong-Buy at StockNews.com

Regal Rexnord (NYSE:RRX) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Several other research firms also recently issued reports on RRX. Barclays reduced their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $203.25.

Regal Rexnord Price Performance

NYSE:RRX opened at $155.07 on Wednesday. The company has a market cap of $10.27 billion, a P/E ratio of 48.92, a P/E/G ratio of 1.83 and a beta of 1.04. The firm’s fifty day moving average price is $166.93 and its two-hundred day moving average price is $160.56. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $2.10 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Equities analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in RRX. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord during the second quarter worth $46,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after buying an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the period. Finally, Quarry LP raised its position in shares of Regal Rexnord by 752.9% during the second quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after acquiring an additional 768 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

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.