Regal Rexnord (NYSE:RRX) Given New $199.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price target cut by Barclays from $203.00 to $199.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 23.60% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. KeyCorp increased their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Oppenheimer lifted their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Robert W. Baird upped their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.60.

Regal Rexnord Trading Up 2.3 %

Shares of RRX opened at $161.00 on Wednesday. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The stock has a fifty day moving average of $169.23 and a two-hundred day moving average of $146.78. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The company has a market capitalization of $10.71 billion, a PE ratio of -185.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 earnings per share. As a group, analysts forecast that Regal Rexnord will post 10.05 EPS for the current year.

Insider Activity

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently modified their holdings of RRX. Xponance Inc. grew its stake in shares of Regal Rexnord by 1.2% in the 4th quarter. Xponance Inc. now owns 8,003 shares of the company’s stock worth $1,185,000 after purchasing an additional 91 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after buying an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Regal Rexnord by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after acquiring an additional 102 shares during the last quarter. Mariner LLC boosted its stake in shares of Regal Rexnord by 2.1% during the 3rd quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after acquiring an additional 113 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Regal Rexnord by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock valued at $468,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 99.72% 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. 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.