Regal Rexnord (NYSE:RRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $191.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.80% from the stock’s current price.
According to Zacks, “Regal Beloit Corporation is an engineering and manufacturing of electric motors and controls, power generation and power transmission products. The company’s operating segments include Commercial Systems, Industrial Systems, Climate Solutions and Power Transmission Solutions. Regal Beloit Corporation, formerly known as REGAL BELOIT, is headquartered in Beloit, Wisconsin. “
Other equities analysts also recently issued research reports about the stock. KeyCorp raised their target price on shares of Regal Rexnord from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Oppenheimer raised their price target on shares of Regal Rexnord from $175.00 to $193.00 and gave the company an “outperform” rating in a report on Wednesday, November 3rd. Finally, Barclays raised their price target on shares of Regal Rexnord from $200.00 to $204.00 and gave the company an “overweight” rating in a report on Tuesday.
Shares of RRX stock traded down $1.16 during mid-day trading on Thursday, reaching $169.32. The company’s stock had a trading volume of 708 shares, compared to its average volume of 437,036. The firm’s 50 day moving average is $164.10. Regal Rexnord has a 12-month low of $122.47 and a 12-month high of $176.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.39 and a quick ratio of 1.34. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.94 and a beta of 1.23.
Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 1st. The company reported $2.36 EPS for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.02. Regal Rexnord had a net margin of 7.86% and a return on equity of 12.96%. The business had revenue of $892.70 million for the quarter, compared to the consensus estimate of $887.51 million. During the same quarter last year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that Regal Rexnord will post 8.77 EPS for the current fiscal year.
About Regal Rexnord
Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.