Regal Rexnord (NYSE:RRX) Upgraded at Wall Street Zen

by · The Markets Daily

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

A number of other brokerages also recently weighed in on RRX. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Barclays increased their target price on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Buy” and a consensus price target of $186.89.

Read Our Latest Research Report on RRX

Regal Rexnord Price Performance

Shares of RRX opened at $140.90 on Friday. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.40 and a beta of 1.18. The stock has a 50 day moving average of $148.22 and a 200-day moving average of $133.18.

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

Regal Rexnord Dividend Announcement

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

Institutional Investors Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in Regal Rexnord by 29.0% in the second quarter. Osaic Holdings Inc. now owns 5,216 shares of the company’s stock worth $750,000 after purchasing an additional 1,172 shares during the period. American Trust bought a new stake in shares of Regal Rexnord in the 2nd quarter worth $285,000. Squarepoint Ops LLC acquired a new stake in shares of Regal Rexnord in the second quarter valued at $1,277,000. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Regal Rexnord in the second quarter valued at $818,000. Finally, Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 35.3% during the second quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock valued at $43,000 after buying an additional 78 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

(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.

Featured Stories