StockNews.com Downgrades Regal Rexnord (NYSE:RRX) to Hold

Regal Rexnord (NYSE:RRX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group increased their price target 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. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.13.

Regal Rexnord Stock Down 3.6 %

NYSE RRX traded down $4.23 during trading on Monday, hitting $113.80. 937,727 shares of the company traded hands, compared to its average volume of 492,797. Regal Rexnord has a 12 month low of $111.47 and a 12 month high of $185.28. The business has a fifty day simple moving average of $135.21 and a 200 day simple moving average of $155.42. The company has a market capitalization of $7.54 billion, a P/E ratio of 38.57, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts predict that Regal Rexnord will post 9.95 EPS for the current year.

Institutional Trading of Regal Rexnord

Several large investors have recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord during the fourth quarter worth $33,000. Tobam acquired a new stake in Regal Rexnord in the 4th quarter valued at about $45,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after acquiring an additional 153 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

About Regal Rexnord

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.