Recent Research Analysts’ Ratings Changes for Regal Rexnord (RRX)

Several brokerages have updated their recommendations and price targets on shares of Regal Rexnord (NYSE: RRX) in the last few weeks:

• 8/5/2024 – Regal Rexnord was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/2/2024 – Regal Rexnord had its price target lowered by analysts at Barclays PLC from $181.00 to $180.00. They now have an “overweight” rating on the stock.
• 8/2/2024 – Regal Rexnord had its price target raised by analysts at Robert W. Baird from $208.00 to $213.00. They now have an “outperform” rating on the stock.
• 8/2/2024 – Regal Rexnord had its price target raised by analysts at The Goldman Sachs Group, Inc. from $176.00 to $195.00. They now have a “buy” rating on the stock.
• 7/15/2024 – Regal Rexnord had its price target lowered by analysts at KeyCorp from $210.00 to $190.00. They now have an “overweight” rating on the stock.
• 7/4/2024 – Regal Rexnord was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 6/28/2024 – Regal Rexnord is now covered by analysts at Raymond James. They set a “market perform” rating on the stock.
• 6/26/2024 – Regal Rexnord was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Regal Rexnord Trading Down 1.4 %

Shares of Regal Rexnord stock traded down $2.22 during trading hours on Tuesday, hitting $157.54. The company’s stock had a trading volume of 404,635 shares, compared to its average volume of 458,943. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $10.48 billion, a PE ratio of -328.21, a P/E/G ratio of 1.64 and a beta of 1.06. The business has a fifty day moving average of $146.42 and a 200 day moving average of $156.66. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business earned $2.56 EPS. Regal Rexnord’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Regal Rexnord Co. will post 9.47 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares in the last quarter. Xponance Inc. grew its holdings in Regal Rexnord by 1.2% during the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock worth $1,185,000 after acquiring an additional 91 shares during the period. Oppenheimer Asset Management Inc. raised its position in Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock worth $686,000 after acquiring an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Regal Rexnord by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after acquiring an additional 102 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in Regal Rexnord by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock valued at $486,000 after acquiring an additional 113 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.