Regal Rexnord (NYSE:RRX) Price Target Increased to $190.00 by Analysts at Barclays

Regal Rexnord (NYSE:RRX) had its price target increased by equities research analysts at Barclays from $180.00 to $190.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 15.01% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Raymond James began coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Robert W. Baird lifted their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.71.

Regal Rexnord Stock Up 0.9 %

Shares of NYSE:RRX traded up $1.49 during mid-day trading on Wednesday, hitting $165.21. 136,085 shares of the company traded hands, compared to its average volume of 453,474. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The stock has a market cap of $10.99 billion, a P/E ratio of -343.15, a P/E/G ratio of 1.76 and a beta of 1.04. The stock has a 50-day moving average price of $158.54 and a two-hundred day moving average price of $156.55.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $2.56 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. On average, equities research analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in shares of Regal Rexnord by 128.4% in the fourth quarter. TD Asset Management Inc now owns 8,227 shares of the company’s stock valued at $1,218,000 after purchasing an additional 4,625 shares in the last quarter. Stifel Financial Corp raised its stake in Regal Rexnord by 32.2% in the 4th quarter. Stifel Financial Corp now owns 61,496 shares of the company’s stock worth $9,103,000 after purchasing an additional 14,963 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Regal Rexnord by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 171,666 shares of the company’s stock worth $25,410,000 after purchasing an additional 2,153 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Regal Rexnord by 33.6% during the 4th quarter. First Trust Advisors LP now owns 231,748 shares of the company’s stock worth $34,303,000 after buying an additional 58,261 shares in the last quarter. Finally, Capital International Sarl grew its position in Regal Rexnord by 12.9% during the 4th quarter. Capital International Sarl now owns 20,450 shares of the company’s stock worth $3,027,000 after acquiring an additional 2,332 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.