Regal Rexnord (NYSE:RRX) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Regal Rexnord from “Buy” to “Hold.” Despite the move, MarketBeat’s analyst consensus remains “Moderate Buy,” with an average price target of $231.33.
• Other firms have trimmed price targets: KeyCorp lowered its target to $240, JPMorgan to $196, and Oppenheimer to $200; their ratings remain overweight or outperform.
• Regal Rexnord beat quarterly earnings and revenue expectations, reporting EPS of $2.90 versus $2.65 forecast and revenue of $1.59 billion, up 6.1% year over year.

Regal Rexnord (NYSE:RRX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on RRX. The Goldman Sachs Group set a $216.00 price target on shares of Regal Rexnord in a research report on Wednesday, September 30th. KeyCorp lowered their target price on Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Regal Rexnord from $240.00 to $196.00 and set an "overweight" rating for the company in a report on Friday, October 9th. Oppenheimer decreased their price objective on shares of Regal Rexnord from $245.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Regal Rexnord in a research note on Thursday, October 15th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and an average target price of $231.33.

Regal Rexnord Stock Up 5.5%

Shares of Regal Rexnord stock opened at $169.06 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.28 and a quick ratio of 1.16. Regal Rexnord has a 1-year low of $127.96 and a 1-year high of $247.80. The business has a 50-day moving average of $158.26 and a 200-day moving average of $189.57. The company has a market capitalization of $11.26 billion, a PE ratio of 48.86, a P/E/G ratio of 1.28 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.25. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Regal Rexnord will post 10.73 EPS for the current fiscal year.

Institutional Trading of Regal Rexnord

Institutional investors have recently bought and sold shares of the stock. Clearstead Trust LLC bought a new position in Regal Rexnord in the second quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Regal Rexnord during the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC bought a new stake in Regal Rexnord during the third quarter valued at $41,000. FNY Investment Advisers LLC bought a new stake in Regal Rexnord in the 2nd quarter worth $43,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Regal Rexnord during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 99.72% of the company's stock.

About Regal Rexnord

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.

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