Regal Rexnord (NYSE:RRX) Coverage Initiated at Citigroup

Investment analysts at Citigroup started coverage on shares of Regal Rexnord (NYSE:RRX - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The firm set a "buy" rating and a $200.00 price target on the stock. Citigroup's price objective would indicate a potential upside of 12.78% from the company's previous close.

RRX has been the subject of several other research reports. Loop Capital reissued a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. KeyCorp dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Tuesday, October 8th. Barclays increased their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $193.63.

Regal Rexnord Price Performance

RRX stock traded up $6.11 during mid-day trading on Monday, reaching $177.33. The company's stock had a trading volume of 481,143 shares, compared to its average volume of 450,651. The stock has a market cap of $11.80 billion, a PE ratio of -367.83, a P/E/G ratio of 1.76 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company's 50 day moving average is $160.37 and its two-hundred day moving average is $155.91.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord's quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.56 EPS. Equities research analysts expect that Regal Rexnord will post 9.48 EPS for the current year.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRX. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at $33,000. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $46,000. UMB Bank n.a. raised its holdings in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company's stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at $68,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $52,000. 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.