Regal Rexnord (NYSE:RRX) Lowered to “Buy” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Regal Rexnord (NYSE:RRX – Free Report) from a strong-buy rating to a buy rating in a report published on Friday.

Other analysts have also issued reports about the stock. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an “overweight” rating in a research note on Thursday, June 26th. Barclays raised their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. The Goldman Sachs Group boosted their price target on Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Citigroup reissued a “buy” rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Regal Rexnord has an average rating of “Buy” and a consensus target price of $185.25.

Check Out Our Latest Analysis on Regal Rexnord

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $145.41 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The business has a 50-day simple moving average of $149.11 and a two-hundred day simple moving average of $132.77. Regal Rexnord has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $2.29 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is presently 37.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RRX. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Allworth Financial LP boosted its position in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in Regal Rexnord during the 4th quarter worth $31,000. Golden State Wealth Management LLC increased its position in Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after buying an additional 138 shares in the last quarter. Finally, Tobam raised its stake in Regal Rexnord by 54.8% in the second quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

(Get Free Report)

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.

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