Regal Rexnord Co. (NYSE:RRX - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $170.22, but opened at $150.30. Regal Rexnord shares last traded at $164.10, with a volume of 63,952 shares.
Wall Street Analyst Weigh In
RRX has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Loop Capital reissued a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. KeyCorp dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Finally, The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $193.63.
Get Our Latest Stock Analysis on RRX
Regal Rexnord Stock Performance
The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of -8,341.50, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The stock has a fifty day moving average price of $165.20 and a 200 day moving average price of $156.13.
Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company's revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 EPS. As a group, analysts predict that Regal Rexnord Co. will post 9.48 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. Regal Rexnord's dividend payout ratio is currently -7,000.00%.
Institutional Trading of Regal Rexnord
A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after buying an additional 563,853 shares during the period. Capital World Investors increased its holdings in Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company's stock valued at $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock valued at $152,183,000 after purchasing an additional 222,775 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock valued at $430,255,000 after purchasing an additional 209,776 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Regal Rexnord by 64.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock valued at $84,012,000 after purchasing an additional 182,770 shares in the last quarter. Institutional investors own 99.72% of the company's stock.
Regal Rexnord Company Profile
(
Get Free Report)
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.
See Also
Before you consider Regal Rexnord, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Regal Rexnord wasn't on the list.
While Regal Rexnord currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.