2 weeks Ago By Defense World Staff
Regal Rexnord ( NYSE:RRX – Get Free Report ) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday. A number of other equities analysts have also recently commented on RRX.
Robert W. Baird lifted their price objective on shares of Regal Rexnord from $208.00 to $213.
00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays reduced their price objective on shares of Regal Rexnord from $181.00 to $180.
00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th.
Raymond James assumed coverage on Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, KeyCorp dropped their target price on Regal Rexnord from $210.
00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock.
According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.29.
Get Our Latest Research Report on Regal Rexnord Regal Rexnord Stock Down 0.8 % Regal Rexnord ( NYSE:RRX – Get Free Report ) last issued its earnings results on Wednesday, July 31st. The company reported $2.
29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15.
The business had revenue of $1.55 billion for 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%.
The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.
56 earnings per share. Equities research analysts predict that Regal Rexnord will post 9.48 earnings per share for the current year.
Institutional Inflows and Outflows Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in Regal Rexnord by 167.5% during the fourth quarter.
The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after acquiring an additional 593,862 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 42.
7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after purchasing an additional 563,853 shares during the last quarter.
Schroder Investment Management Group bought a new stake in shares of Regal Rexnord during the fourth quarter worth about $49,041,000. Capital World Investors grew its holdings in shares of Regal Rexnord by 4.7% during the first quarter.
Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Regal Rexnord by 7.
1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter.
Institutional investors and hedge funds 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. Read More Five stocks we like better than Regal Rexnord Top Biotech Stocks: Exploring Innovation Opportunities TJX Stock: A Buying Opportunity Before the Holiday Rush About the Markup Calculator Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge What Does a Gap Up Mean in Stocks? How to Play the Gap Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter .
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