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

Regal Rexnord (NYSE:RRX) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer raised their price objective on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. The Goldman Sachs Group increased their target price on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Barclays boosted their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $228.50.

Regal Rexnord Price Performance

RRX stock opened at $183.81 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company’s 50-day moving average is $196.03 and its 200-day moving average is $162.43. The stock has a market capitalization of $12.24 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $229.30.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $2.34 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert Rehard sold 7,704 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $216.72, for a total value of $1,669,610.88. Following the completion of the sale, the chief financial officer directly owned 34,154 shares of the company’s stock, valued at approximately $7,401,854.88. This represents a 18.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 36,728 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares in the company, valued at approximately $17,960,790.24. This trade represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,451 shares of company stock worth $11,386,689 over the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord in the 3rd quarter valued at about $27,000. Garner Asset Management Corp purchased a new stake in Regal Rexnord in the 4th quarter valued at about $27,000. Finally, IFP Advisors Inc lifted its position in shares of Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. 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.