Regal Rexnord (NYSE:RRX) Stock Rating Upgraded by StockNews.com

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

RRX has been the topic of a number of other reports. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Citigroup initiated coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $203.25.

Regal Rexnord Trading Down 0.7 %

Regal Rexnord stock traded down $1.11 during mid-day trading on Wednesday, hitting $155.07. 374,108 shares of the stock were exchanged, compared to its average volume of 478,442. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 1.83 and a beta of 1.04. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $167.21 and its two-hundred day simple moving average is $160.59.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping 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 net margin of 3.41% and a return on equity of 9.48%. Regal Rexnord’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Analysts forecast that Regal Rexnord will post 9.24 EPS for the current year.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Regal Rexnord during the second quarter valued at about $46,000. UMB Bank n.a. increased its stake in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after buying an additional 67 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Regal Rexnord by 752.9% in the second quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after acquiring an additional 768 shares in the last quarter. 99.72% of the stock is 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.