Regal Rexnord (NYSE:RRX) Upgraded by StockNews.com to "Buy" Rating

Regal Rexnord (NYSE:RRX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

A number of other equities research analysts also recently weighed in on RRX. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of "Moderate Buy" and an average target price of $170.75.

Regal Rexnord Price Performance

Regal Rexnord stock traded up $2.40 during trading hours on Tuesday, reaching $99.08. 1,542,639 shares of the stock were exchanged, compared to its average volume of 524,409. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a market cap of $6.57 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a 50 day moving average of $122.43 and a two-hundred day moving average of $150.80.

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 the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its stake in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord in the 4th quarter worth about $33,000. Tobam acquired a new position in shares of Regal Rexnord in the 4th quarter valued at about $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds 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.