Wall Street Zen Upgrades Regal Rexnord (NYSE:RRX) to Strong-Buy

Regal Rexnord (NYSE:RRX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Thursday.

RRX has been the topic of several other research reports. Citigroup increased their price objective on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. KeyCorp lowered their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Barclays raised their target price 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. Finally, Robert W. Baird boosted their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Regal Rexnord has an average rating of "Buy" and an average price target of $171.25.

Regal Rexnord Stock Performance

Shares of RRX stock traded down $0.91 on Thursday, reaching $133.75. The stock had a trading volume of 82,000 shares, compared to its average volume of 572,641. 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 $8.87 billion, a price-to-earnings ratio of 45.29, a P/E/G ratio of 1.37 and a beta of 1.11. The firm's 50-day moving average is $115.37 and its two-hundred day moving average is $141.04. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company's revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 earnings per share. On average, research analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now directly owns 175,954 shares in the company, valued at $24,691,624.82. This 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 at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. acquired a new position in shares of Regal Rexnord in the 4th quarter worth approximately $213,000. KBC Group NV raised its stake in Regal Rexnord by 1,136.7% during the fourth quarter. KBC Group NV now owns 22,199 shares of the company's stock worth $3,444,000 after buying an additional 20,404 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Regal Rexnord by 9.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 35,485 shares of the company's stock valued at $5,505,000 after purchasing an additional 3,058 shares during the period. Hantz Financial Services Inc. grew its stake in Regal Rexnord by 4.2% during the fourth quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company's stock worth $16,176,000 after purchasing an additional 4,157 shares during the period. Finally, Jennison Associates LLC increased its holdings in Regal Rexnord by 33.9% in the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company's stock worth $27,257,000 after purchasing an additional 44,447 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.

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