Regal Rexnord (NYSE:RRX) Upgraded to Strong-Buy at StockNews.com

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

Several other brokerages have also issued reports on RRX. Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group upped their price objective 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. Barclays cut their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $203.25.

Regal Rexnord Stock Performance

RRX stock traded down $1.11 during mid-day trading on Wednesday, hitting $155.07. The company had a trading volume of 374,108 shares, compared to its average volume of 478,442. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The firm has a market cap of $10.27 billion, a PE ratio of 48.92, a price-to-earnings-growth 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 stock’s fifty day moving average price is $167.21 and its two-hundred day moving average price is $160.59.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $2.10 EPS. Regal Rexnord’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts forecast that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction 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 $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.

Institutional Trading of Regal Rexnord

A number of large investors have recently modified their holdings of RRX. CIBC Asset Management Inc increased its position in shares of Regal Rexnord by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after purchasing an additional 61 shares during the last quarter. Hengehold Capital Management LLC grew its stake in Regal Rexnord by 1.5% in the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after buying an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings 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. iA Global Asset Management Inc. raised its position in shares of Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after buying an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Regal Rexnord by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after acquiring an additional 95 shares during the last quarter. 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.