Regal Rexnord (NYSE:RRX) Given New $190.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price target reduced by stock analysts at Barclays from $205.00 to $190.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 22.53% from the stock’s current price.

Several other brokerages have also recently commented on RRX. Citigroup began coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird dropped their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $203.25.

Regal Rexnord Stock Performance

NYSE RRX opened at $155.07 on Wednesday. Regal Rexnord has a 1-year low of $130.94 and a 1-year high of $185.28. The company has a 50 day moving average of $166.93 and a 200-day moving average of $160.56. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $2.10 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities analysts forecast that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. lifted its stake in Regal Rexnord by 7.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after acquiring an additional 209,776 shares during the last quarter. State Street Corp increased its stake in shares of Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Regal Rexnord by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after purchasing an additional 8,159 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock valued at $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. 99.72% of the stock is 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.