Regal Rexnord (NYSE:RRX) Earns "Buy" Rating from Citigroup

Regal Rexnord (NYSE:RRX - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Citigroup in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $165.00 price objective on the stock, up from their previous price objective of $145.00. Citigroup's price objective indicates a potential upside of 12.38% from the company's current price.

RRX has been the topic of a number of other research reports. Barclays increased their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Robert W. Baird increased their price target 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. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group reduced their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, KeyCorp lowered their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $180.63.

Regal Rexnord Price Performance

RRX stock traded down $0.18 during trading on Tuesday, hitting $146.82. 817,484 shares of the stock traded hands, compared to its average volume of 725,176. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 41.67, a P/E/G ratio of 1.47 and a beta of 1.16. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $130.70 and a 200 day simple moving average of $134.98.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. Regal Rexnord's revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. Equities analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer now owns 175,954 shares of the company's stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.82% of the company's stock.

Institutional Trading of Regal Rexnord

A number of large investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new stake in shares of Regal Rexnord during the fourth quarter worth $1,427,000. JPMorgan Chase & Co. increased its holdings in Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after purchasing an additional 247,673 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after purchasing an additional 759 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Rexnord by 16.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after buying an additional 2,414 shares during the period. Finally, Norges Bank acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $235,188,000. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Company Profile

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.