Regal Rexnord Co. (NYSE:RRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Regal Rexnord Co. (NYSE:RRX) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $193.63.

RRX has been the topic of a number of recent research reports. Loop Capital restated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Citigroup began coverage on shares of Regal Rexnord in a research note on Monday. They issued a “buy” rating and a $200.00 target price for the company. Raymond James began coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Regal Rexnord Price Performance

Shares of RRX opened at $176.54 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of -8,827.00, a P/E/G ratio of 1.87 and a beta of 1.04. The business’s 50-day moving average is $162.49 and its 200-day moving average is $156.15. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. The company’s revenue was down 12.5% compared to the same quarter last year. Equities research analysts expect that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.35 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. Regal Rexnord’s payout ratio is presently -7,000.00%.

Institutional Trading of Regal Rexnord

Several hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new position in shares of Regal Rexnord during the first quarter worth approximately $33,000. Headlands Technologies LLC acquired a new position in Regal Rexnord during the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord in the 2nd quarter valued at $52,000. UMB Bank n.a. grew its position in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Regal Rexnord during the 1st quarter worth about $68,000. Institutional investors 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.