KeyCorp Lowers Regal Rexnord (NYSE:RRX) Price Target to $148.00

Regal Rexnord (NYSE:RRX) had its target price decreased by stock analysts at KeyCorp from $184.00 to $148.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 39.68% from the company’s previous close.

A number of other research analysts also recently weighed in on RRX. Oppenheimer reissued an “outperform” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Wednesday, October 4th. StockNews.com assumed coverage on shares of Regal Rexnord in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Robert W. Baird raised their price objective on shares of Regal Rexnord from $184.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $186.00.

Regal Rexnord Trading Up 6.4 %

NYSE:RRX opened at $105.96 on Thursday. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $166.00. The firm has a 50-day moving average price of $139.82 and a two-hundred day moving average price of $142.81. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of -588.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 2.52.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, November 1st. The company reported $2.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.40). Regal Rexnord had a negative net margin of 0.20% and a positive return on equity of 9.83%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts expect that Regal Rexnord will post 10.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, VP John Avampato sold 8,427 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $151.83, for a total value of $1,279,471.41. Following the completion of the transaction, the vice president now directly owns 12,953 shares of the company’s stock, valued at approximately $1,966,653.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

A number of large investors have recently modified their holdings of the stock. Belpointe Asset Management LLC raised its holdings in shares of Regal Rexnord by 139.1% during the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Spire Wealth Management boosted its position in shares of Regal Rexnord by 115.5% in the first quarter. Spire Wealth Management now owns 278 shares of the company’s stock worth $39,000 after purchasing an additional 149 shares during the period. Janiczek Wealth Management LLC boosted its position in shares of Regal Rexnord by 45.4% in the third quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock worth $40,000 after purchasing an additional 88 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Regal Rexnord in the first quarter worth approximately $42,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Regal Rexnord by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 330 shares of the company’s stock worth $46,000 after purchasing an additional 110 shares during the period. Institutional investors own 96.67% of the company’s stock.

Regal Rexnord Company Profile

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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.