Regal Rexnord Corporation (NYSE:RRX) Stock Has Consensus Price Target of $231.33 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Regal Rexnord, with eight buy ratings and three hold ratings among 11 firms. The average 12-month price target is $231.33, though some analysts recently cut targets while others raised or maintained theirs.
• Regal Rexnord reported quarterly EPS of $2.90, beating the $2.65 consensus, and revenue of $1.59 billion, above estimates and up 6.1% year over year.
• The company announced a quarterly dividend of $0.35 per share, or $1.40 annualized, representing a 0.8% yield.

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $231.33.

Several equities research analysts recently commented on RRX shares. JPMorgan Chase & Co. cut their target price on Regal Rexnord from $240.00 to $196.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Oppenheimer lowered their price target 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. Citigroup increased their price target on shares of Regal Rexnord from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday. The Goldman Sachs Group set a $216.00 price target on Regal Rexnord in a research report on Wednesday, September 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research report on Thursday, October 15th.

Regal Rexnord Price Performance

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

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

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 31st. Regal Rexnord's dividend payout ratio is 40.46%.

Institutional Trading of Regal Rexnord

Several hedge funds and other institutional investors have recently modified their holdings of RRX. BlackRock Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $1,477,356,000. Bank of New York Mellon Corp purchased a new stake in shares of Regal Rexnord during the second quarter worth $449,281,000. Wellington Management Group LLP lifted its position in Regal Rexnord by 75.8% in the 2nd quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company's stock worth $615,496,000 after buying an additional 1,113,888 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Regal Rexnord in the second quarter valued at $254,637,000. Finally, Bessemer Group Inc. grew its position in Regal Rexnord by 4,155.4% during the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company's stock valued at $171,541,000 after purchasing an additional 894,527 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Company Profile

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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