Regal Rexnord (NYSE:RRX) Coverage Initiated at Raymond James

Investment analysts at Raymond James started coverage on shares of Regal Rexnord (NYSE:RRX) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “market perform” rating on the stock.

RRX has been the subject of a number of other research reports. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays lowered their price objective 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. Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. KeyCorp boosted their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Oppenheimer upped their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

Regal Rexnord Trading Down 0.6 %

Shares of RRX stock opened at $135.22 on Friday. The company has a 50-day moving average of $151.63 and a two-hundred day moving average of $154.80. 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 firm has a market cap of $8.99 billion, a PE ratio of -281.71, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm posted $2.22 earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts predict that Regal Rexnord will post 9.82 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RRX. Vanguard Group Inc. grew its position in shares of Regal Rexnord by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after buying an additional 24,847 shares in the last quarter. Capital World Investors lifted its stake in Regal Rexnord by 4.7% during the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Regal Rexnord by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock worth $522,892,000 after purchasing an additional 135,154 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Regal Rexnord by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock worth $206,862,000 after purchasing an additional 30,688 shares during the last quarter. Finally, Norges Bank bought a new stake in Regal Rexnord in the fourth quarter valued at $180,918,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.