Regal Rexnord (NYSE:RRX) Cut to Hold at StockNews.com

Regal Rexnord (NYSE:RRX - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.

Several other analysts have also issued reports on the company. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. Oppenheimer dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Barclays reduced their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Citigroup cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $188.88.

Remove Ads

Regal Rexnord Stock Down 15.4 %

NYSE:RRX traded down $18.67 during trading hours on Monday, hitting $102.84. 1,717,586 shares of the company's stock traded hands, compared to its average volume of 499,238. The stock's fifty day moving average price is $133.45 and its two-hundred day moving average price is $154.90. The firm has a market cap of $6.82 billion, a P/E ratio of 34.86, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a twelve month low of $102.50 and a twelve month high of $185.28.

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

Institutional Trading of Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its position in shares of Regal Rexnord by 11.7% in the third quarter. Cerity Partners LLC now owns 2,632 shares of the company's stock valued at $436,000 after acquiring an additional 276 shares during the period. Townsquare Capital LLC acquired a new position in Regal Rexnord during the 3rd quarter valued at $267,000. PEAK6 Investments LLC bought a new stake in Regal Rexnord in the 3rd quarter valued at $1,557,000. Erste Asset Management GmbH acquired a new stake in Regal Rexnord in the 3rd quarter worth $6,253,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Regal Rexnord in the 3rd quarter worth $255,000. 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.