Regal Rexnord (NYSE:RRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other research analysts also recently commented on RRX. Oppenheimer increased their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. KeyCorp lifted their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Barclays decreased their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an overweight rating on the stock in a research report on Tuesday, June 4th. Finally, Robert W. Baird lifted their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $192.00.

Regal Rexnord Trading Down 0.6 %

RRX stock opened at $135.22 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The business has a 50 day simple moving average of $151.63 and a two-hundred day simple moving average of $154.80. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of -281.71, a PEG ratio of 1.39 and a beta of 1.10.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. Regal Rexnord’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 earnings per share. Research analysts anticipate that Regal Rexnord will post 9.82 EPS for the current fiscal 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 issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 1.04%. Regal Rexnord’s payout ratio is -291.67%.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC increased its stake in Regal Rexnord by 61.9% in the third quarter. HighTower Advisors LLC now owns 3,543 shares of the company’s stock worth $503,000 after purchasing an additional 1,355 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Regal Rexnord by 81.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 108,963 shares of the company’s stock valued at $15,569,000 after buying an additional 48,772 shares in the last quarter. Hsbc Holdings PLC boosted its position in Regal Rexnord by 27.4% in the 3rd quarter. Hsbc Holdings PLC now owns 2,902 shares of the company’s stock valued at $415,000 after buying an additional 625 shares during the period. Dark Forest Capital Management LP bought a new position in Regal Rexnord in the 3rd quarter worth about $309,000. Finally, Mariner LLC increased its position in shares of Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after acquiring an additional 113 shares during the period. 99.72% of the stock is currently owned by hedge funds and other 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.