Regal Rexnord Co. (NYSE:RRX) Given Average Recommendation of “Moderate Buy” by Analysts

Regal Rexnord Co. (NYSE:RRX) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $191.29.

Several brokerages have recently commented on RRX. Loop Capital reaffirmed a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Barclays lowered their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Raymond James began coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird upped their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Trust purchased a new stake in Regal Rexnord in the second quarter worth about $218,000. Sanctuary Advisors LLC purchased a new stake in Regal Rexnord in the second quarter worth about $263,000. B. Riley Wealth Advisors Inc. purchased a new stake in Regal Rexnord in the second quarter worth about $292,000. Quarry LP grew its holdings in Regal Rexnord by 752.9% in the second quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after purchasing an additional 768 shares during the period. Finally, Creative Planning grew its holdings in Regal Rexnord by 28.5% in the second quarter. Creative Planning now owns 2,805 shares of the company’s stock worth $379,000 after purchasing an additional 622 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $167.18 on Monday. The company has a 50-day simple moving average of $158.04 and a two-hundred day simple moving average of $156.91. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of -348.29, a PEG ratio of 1.77 and a beta of 1.04.

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

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is currently -291.67%.

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.