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

Regal Rexnord (NYSE:RRX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. DA Davidson assumed coverage on Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price on the stock. Citigroup upped their target price on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wolfe Research set a $250.00 price target on Regal Rexnord in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.45.

Regal Rexnord Stock Up 0.2%

RRX stock opened at $207.29 on Friday. Regal Rexnord has a 12 month low of $127.96 and a 12 month high of $247.80. The firm has a market cap of $13.80 billion, a PE ratio of 48.21, a P/E/G ratio of 1.94 and a beta of 1.08. The firm has a 50 day simple moving average of $211.75 and a 200 day simple moving average of $197.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 earnings per share. Equities research analysts forecast that Regal Rexnord will post 10.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at approximately $12,012,628.32. The trade was a 28.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares in the company, valued at approximately $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB raised its position in Regal Rexnord by 8.0% during the second quarter. Handelsbanken Fonder AB now owns 18,914 shares of the company’s stock valued at $4,505,000 after buying an additional 1,400 shares during the period. FNY Investment Advisers LLC purchased a new stake in Regal Rexnord in the 2nd quarter worth about $43,000. GAMMA Investing LLC lifted its stake in Regal Rexnord by 6.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock worth $567,000 after acquiring an additional 142 shares in the last quarter. Avior Wealth Management LLC boosted its position in Regal Rexnord by 27.0% during the 2nd quarter. Avior Wealth Management LLC now owns 2,150 shares of the company’s stock worth $512,000 after acquiring an additional 457 shares during the period. Finally, Central Pacific Bank Trust Division boosted its position in Regal Rexnord by 9.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,695 shares of the company’s stock worth $880,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.