Regal Rexnord (NYSE:RRX) Price Target Raised to $145.00 at Citigroup

Regal Rexnord (NYSE:RRX) had its target price upped by investment analysts at Citigroup from $110.00 to $145.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 8.02% from the stock’s current price.

Several other equities analysts have also commented on RRX. Oppenheimer decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Barclays lowered their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Finally, StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.63.

Regal Rexnord Price Performance

Shares of RRX opened at $134.24 on Thursday. The company has a 50 day moving average of $111.89 and a two-hundred day moving average of $142.54. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $2.00 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ raised its holdings in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its holdings in shares of Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the fourth quarter worth approximately $33,000. Finally, Tobam acquired a new position in Regal Rexnord during the fourth quarter worth $45,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

About Regal Rexnord

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.