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

Regal Rexnord Corporation (NYSE:RRX) has received an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $185.25.

Several brokerages recently commented on RRX. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Citigroup reiterated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays raised their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group upped their price objective on Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th.

Regal Rexnord Stock Down 0.6%

RRX stock opened at $141.48 on Monday. The business has a 50 day moving average of $148.78 and a 200 day moving average of $132.96. The firm has a market cap of $9.39 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last released its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company’s revenue for the quarter 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, research analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Institutional Trading of Regal Rexnord

A number of large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its position in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. Allworth Financial LP raised its stake in Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Regal Rexnord during the 4th quarter valued at $31,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 during the period. Finally, Tobam boosted its stake in shares of Regal Rexnord by 54.8% in the 2nd quarter. Tobam now owns 308 shares of the company’s stock worth $45,000 after buying an additional 109 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.