Regal Rexnord (NYSE:RRX) Downgraded to Hold at StockNews.com

Regal Rexnord (NYSE:RRXGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird raised their price target on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Oppenheimer boosted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp boosted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Finally, Barclays reduced their price target on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $195.60.

View Our Latest Research Report on Regal Rexnord

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $160.17 on Tuesday. The firm has a market cap of $10.65 billion, a PE ratio of -333.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $168.07 and its two-hundred day simple moving average is $149.48.

Regal Rexnord (NYSE:RRXGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.22 EPS. As a group, equities analysts expect that Regal Rexnord will post 9.88 EPS for the current year.

Insiders Place Their Bets

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the transaction, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its position in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Rise Advisors LLC bought a new position in Regal Rexnord during the first quarter valued at approximately $33,000. GAMMA Investing LLC bought a new position in Regal Rexnord during the fourth quarter valued at approximately $58,000. EntryPoint Capital LLC bought a new position in Regal Rexnord during the first quarter valued at approximately $68,000. Finally, ICA Group Wealth Management LLC bought a new position in Regal Rexnord during the fourth quarter valued at approximately $70,000. 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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Analyst Recommendations for Regal Rexnord (NYSE:RRX)

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