Regal Rexnord (NYSE:RRX) Earns Buy Rating from Analysts at Citigroup

by · The Markets Daily

Investment analysts at Citigroup began coverage on shares of Regal Rexnord (NYSE:RRX – Get Free Report) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $200.00 price target on the stock. Citigroup’s price objective points to a potential upside of 16.81% from the stock’s current price.

Several other equities analysts have also commented on the stock. Barclays raised their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Raymond James assumed coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Robert W. Baird raised their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $193.63.

View Our Latest Stock Analysis on Regal Rexnord

Regal Rexnord Price Performance

RRX stock opened at $171.22 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The firm has a market cap of $11.39 billion, a P/E ratio of -8,561.00, a P/E/G ratio of 1.76 and a beta of 1.04. The company’s 50-day moving average price is $160.37 and its two-hundred day moving average price is $156.06.

Regal Rexnord (NYSE:RRX – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $2.56 EPS. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, analysts anticipate that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after purchasing an additional 24,847 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Regal Rexnord by 8.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Regal Rexnord by 161.4% in the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after acquiring an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Regal Rexnord by 18.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after acquiring an additional 47,379 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Regal Rexnord in the 1st quarter valued at $19,508,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

(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.

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