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

Key Points

• Regal Rexnord has been upgraded to a "Strong-Buy" rating by Wall Street Zen, signaling increased investor confidence in the stock.
• Multiple analysts have raised their price targets for Regal Rexnord, with the consensus price target now at $185.25.
• The company reported earnings per share of $2.48 for the last quarter, exceeding expectations, but revenue was down 3.3% compared to the previous year.

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

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. Citigroup reiterated a "buy" rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays increased their price objective on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group increased their price objective on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Regal Rexnord presently has a consensus rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Trading Up 7.1%

Shares of RRX stock opened at $153.8890 on Friday. The stock has a market capitalization of $10.21 billion, a PE ratio of 40.93, a P/E/G ratio of 1.55 and a beta of 1.18. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $185.28. The business has a 50-day moving average of $147.82 and a 200 day moving average of $132.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RRX. Geneos Wealth Management Inc. grew its stake in shares of Regal Rexnord by 35.3% during the second quarter. Geneos Wealth Management Inc. now owns 299 shares of the company's stock valued at $43,000 after buying an additional 78 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after buying an additional 87 shares during the last quarter. Allworth Financial LP grew its stake in shares of 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 buying an additional 90 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Regal Rexnord by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after buying an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Regal Rexnord by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the company's stock valued at $2,711,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

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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