Regal Rexnord (NYSE:RRX) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Regal Rexnord (NYSE:RRX) with an "overweight" rating and a price target of $200.00, indicating a potential upside of 44.22% from its previous close.
• Several other analysts, including Goldman Sachs and Citigroup, have also updated their ratings and price targets, with the average target price for the stock now at $186.89.
• Regal Rexnord reported $2.48 EPS for the last quarter, exceeding consensus estimates, while also setting a fiscal year 2025 guidance of 9.700-10.300 EPS.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Regal Rexnord (NYSE:RRX - Get Free Report) in a note issued to investors on Monday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $200.00 price target on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 39.65% from the stock's previous close.

RRX has been the topic of a number of other research reports. Barclays increased their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, KeyCorp set a $180.00 target price on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $181.63.

Regal Rexnord Trading Down 0.8%

NYSE:RRX traded down $1.21 during midday trading on Monday, hitting $143.21. 273,307 shares of the company traded hands, compared to its average volume of 757,150. 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 firm's fifty day moving average is $147.69 and its 200-day moving average is $133.42. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a market capitalization of $9.50 billion, a P/E ratio of 38.09, a P/E/G ratio of 1.41 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, sell-side analysts predict that Regal Rexnord will post 9.95 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Regal Rexnord in the second quarter valued at $256,155,000. Nordea Investment Management AB purchased a new position in Regal Rexnord during the 2nd quarter worth approximately $224,889,000. Nuveen LLC purchased a new position in Regal Rexnord during the 1st quarter worth approximately $117,996,000. Viking Global Investors LP grew its position in Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock worth $497,231,000 after purchasing an additional 701,145 shares in the last quarter. Finally, Invesco Ltd. grew its position in Regal Rexnord by 76.3% during the 1st quarter. Invesco Ltd. now owns 932,829 shares of the company's stock worth $106,203,000 after purchasing an additional 403,845 shares in the last quarter. 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.