Regal Rexnord (NYSE:RRX) Cut to ‘Hold’ at StockNews.com

Regal Rexnord (NYSE:RRX – Get a Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also commented on RRX. Barclays upped their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Goldman Sachs Group upped their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Loop Capital restated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and an average target price of $192.71, according to MarketBeat .

Get the latest report on RRX

Regal Rexnord price performance

Shares of Regal Rexnord stock opened at $166.91 on Tuesday. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of -347.73, a PEG ratio of 1.74 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45, and a debt-to-equity ratio of 0.91. The company has a 50-day simple moving average of $159.95 and a 200-day simple moving average of $156.22. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85.

Regal Rexnord (NYSE:RRX – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. Regal Rexnord’s revenue fell 12.5% ​​year over year. In the same quarter last year, the company earned $2.56 per share. On average, research analysts predict that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Hedge funds affect Regal Rexnord

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Regal Rexnord in the first quarter valued at about $33,000. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the second quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new stake in Regal Rexnord in the second quarter valued at $52,000. UMB Bank raised its holdings in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Regal Rexnord in the first quarter valued at approximately $68,000. 99.72% of shares are currently owned by institutional investors.

Regal Rexnord Company Profile

(Get a free report)

Regal Rexnord Corporation manufactures and sells industrial propulsion solutions, power transmission components, electric motors and electronic controls, air transportation products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, transmissions and mechanical power transmission components, gearboxes, gear motors, clutches, brakes, special and industrial powertrain components and solutions for food and beverage, material handling in bulk, e-commerce/warehouse distribution, energy, mining, marine, agricultural machinery, lawn and garden and general industrial markets.

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