Regal Rexnord Corporation (NYSE:RRX) Receives $185.25 Consensus Target Price from Brokerages

Regal Rexnord Corporation (NYSE:RRX) has received a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $185.25.

A number of research firms recently weighed in on RRX. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an “overweight” rating in a research report on Thursday, June 26th. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Citigroup reiterated a “buy” rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Robert W. Baird increased their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Barclays increased their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in RRX. Envestnet Asset Management Inc. grew its holdings in Regal Rexnord by 10.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 74,169 shares of the company’s stock worth $11,506,000 after acquiring an additional 7,275 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Regal Rexnord by 17.0% during the 4th quarter. Russell Investments Group Ltd. now owns 21,618 shares of the company’s stock worth $3,354,000 after acquiring an additional 3,146 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Regal Rexnord during the 4th quarter worth approximately $22,325,000. Marshall Wace LLP bought a new stake in Regal Rexnord during the 4th quarter worth approximately $4,801,000. Finally, Advisory Research Inc. grew its holdings in Regal Rexnord by 1.5% during the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company’s stock worth $1,041,000 after acquiring an additional 98 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Trading Down 1.7%

Regal Rexnord stock opened at $145.74 on Thursday. 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 $9.67 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28. The firm’s 50 day moving average price is $147.25 and its two-hundred day moving average price is $132.32.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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 firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Regal Rexnord Company Profile

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.