Regal Rexnord (NYSE:RRX) Cut to Buy at StockNews.com

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

Other research analysts have also recently issued research reports about the company. Barclays lowered their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Loop Capital restated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Robert W. Baird decreased their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.00.

Regal Rexnord Trading Down 1.3 %

Shares of Regal Rexnord stock opened at $156.41 on Thursday. The business has a fifty day simple moving average of $164.43 and a two-hundred day simple moving average of $161.27. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 49.34, a P/E/G ratio of 1.44 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 EPS. Research 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 firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by insiders.

Institutional Trading of Regal Rexnord

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after purchasing an additional 8,159 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Regal Rexnord during the second quarter valued at about $949,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Regal Rexnord by 7.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,521 shares of the company’s stock valued at $731,000 after purchasing an additional 402 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Regal Rexnord by 342.8% during the second quarter. Hsbc Holdings PLC now owns 14,033 shares of the company’s stock valued at $1,908,000 after purchasing an additional 10,864 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Regal Rexnord by 159.6% during the second quarter. XTX Topco Ltd now owns 9,665 shares of the company’s stock valued at $1,307,000 after purchasing an additional 5,942 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.