Regal Rexnord (NYSE:RRX) Downgraded to "Hold" Rating by StockNews.com

Regal Rexnord (NYSE:RRX - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Other analysts have also recently issued research reports about the company. KeyCorp dropped their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. The Goldman Sachs Group dropped their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Citigroup dropped their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Price Performance

RRX stock traded up $1.74 during midday trading on Wednesday, hitting $98.38. 839,476 shares of the stock were exchanged, compared to its average volume of 531,040. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The stock's 50-day moving average price is $118.11 and its 200-day moving average price is $148.35.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Research analysts predict that Regal Rexnord will post 9.95 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ grew its holdings in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the fourth quarter worth about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the fourth quarter worth about $33,000. Tobam purchased a new position in Regal Rexnord in the fourth quarter valued at about $45,000. Finally, Jones Financial Companies Lllp increased its holdings in Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other 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.