Barclays Increases Regal Rexnord (NYSE:RRX) Price Target to $245.00

Regal Rexnord (NYSE:RRX) had its target price raised by equities researchers at Barclays from $237.00 to $245.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 29.39% from the stock’s previous close.

Several other equities analysts have also issued reports on RRX. Oppenheimer raised their price target on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. The Goldman Sachs Group increased their price objective on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. KeyCorp raised their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and decreased their target price for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Finally, Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.50.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $189.35 on Monday. The firm has a fifty day simple moving average of $191.43 and a two-hundred day simple moving average of $160.23. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $229.30. The company has a market capitalization of $12.61 billion, a PE ratio of 45.08, a P/E/G ratio of 1.71 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.34 earnings per share. Research analysts expect that Regal Rexnord will post 9.95 EPS for the current year.

Insider Transactions at Regal Rexnord

In other news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares of the company’s stock, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Louis V. Pinkham sold 36,728 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the transaction, the chief executive officer owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,451 shares of company stock worth $11,386,689 over the last 90 days. 0.82% of the stock is currently owned by insiders.

Institutional Trading of Regal Rexnord

A number of hedge funds have recently modified their holdings of RRX. Covestor Ltd increased its stake in shares of Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord during the third quarter worth about $27,000. Garner Asset Management Corp purchased a new stake in Regal Rexnord in the fourth quarter worth about $27,000. Finally, IFP Advisors Inc increased its stake in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.