Regal Rexnord Corporation (NYSE:RRX) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Regal Rexnord Corporation (NYSE:RRX) has received a consensus recommendation of "Buy" from eight research firms, with an average 12-month price target of $185.25.
• The company reported $2.48 earnings per share for the last quarter, exceeding analysts' estimates of $2.42, while also announcing a quarterly dividend of $0.35.
• Institutional investors hold 99.72% of Regal Rexnord's stock, indicating strong confidence in the company's performance and future prospects.

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $185.25.

A number of analysts have recently issued reports on RRX shares. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Barclays lifted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Citigroup reiterated a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th.

Institutional Trading of Regal Rexnord

Several institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Allworth Financial LP increased its stake in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company's stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord during the fourth quarter valued at $31,000. Golden State Wealth Management LLC increased its stake in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Finally, Tobam increased its stake in Regal Rexnord by 54.8% during the second quarter. Tobam now owns 308 shares of the company's stock valued at $45,000 after purchasing an additional 109 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 8.2%

Shares of RRX stock opened at $154.68 on Thursday. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Regal Rexnord has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The firm's 50 day moving average price is $146.93 and its two-hundred day moving average price is $132.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. On average, analysts anticipate that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a yield of 0.9%. Regal Rexnord's dividend payout ratio is currently 37.23%.

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.

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