Regal Rexnord (NYSE:RRX) Raised to Strong-Buy at Wall Street Zen

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

Other equities analysts also recently issued research reports about the stock. KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the stock an “overweight” rating in a research note 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 stock a “buy” rating in a research note on Tuesday, July 8th. Robert W. Baird increased their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Barclays increased their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $185.25.

Regal Rexnord Stock Down 0.9%

RRX stock opened at $152.9280 on Friday. The stock has a market capitalization of $10.15 billion, a P/E ratio of 40.67, a PEG ratio of 1.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The company has a 50 day moving average price of $148.04 and a two-hundred day moving average price of $132.03.

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. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. Regal Rexnord’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, sell-side analysts expect that Regal Rexnord will post 9.95 EPS for the current year.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its stake in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the 4th quarter valued at $31,000. Geneos Wealth Management Inc. grew its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in 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 purchasing an additional 138 shares in the last quarter. Finally, Tobam grew its holdings in Regal Rexnord by 54.8% during the 2nd quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

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.