Regal Rexnord Co. (NYSE:RRX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $202.00.

RRX has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays cut their target price on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lowered their price target on 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 began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, Citigroup decreased their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Regal Rexnord Trading Down 1.0 %

Shares of Regal Rexnord stock opened at $165.46 on Friday. The firm has a market cap of $10.96 billion, a PE ratio of 52.20, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The business’s fifty day moving average is $163.47 and its two-hundred day moving average is $162.44.

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

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction 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 directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Quarry LP raised its position in shares of Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after purchasing an additional 768 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

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.