Regal Rexnord (NYSE:RRX) Cut to “Strong Sell” at Zacks Research

Regal Rexnord (NYSE:RRX) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on RRX. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Robert W. Baird set a $212.00 target price on shares of Regal Rexnord in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research report on Monday. Finally, KeyCorp dropped their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.63.

Regal Rexnord Price Performance

NYSE RRX opened at $137.55 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $143.87 and a 200 day simple moving average of $141.26. The company has a market cap of $9.13 billion, a P/E ratio of 35.54, a P/E/G ratio of 1.52 and a beta of 1.16. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The business had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. On average, sell-side analysts predict that Regal Rexnord will post 9.95 EPS for the current year.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. bought a new stake in shares of Regal Rexnord during the 2nd quarter worth about $733,000. Phoenix Financial Ltd. bought a new stake in Regal Rexnord in the 2nd quarter valued at about $673,000. Nordea Investment Management AB bought a new stake in Regal Rexnord in the 2nd quarter valued at about $224,889,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Regal Rexnord in the 2nd quarter valued at about $3,229,000. Finally, Hantz Financial Services Inc. boosted its holdings in Regal Rexnord by 16.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 133,077 shares of the company’s stock valued at $19,291,000 after purchasing an additional 19,127 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.