Regal Rexnord (NYSE:RRX) Given New $205.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price objective lifted by analysts at Barclays from $190.00 to $205.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 20.43% from the stock’s current price.

RRX has been the subject of several other research reports. Loop Capital reiterated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Citigroup started 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. Finally, Robert W. Baird lowered their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $194.88.

Regal Rexnord Stock Down 1.6 %

RRX traded down $2.69 during trading on Thursday, hitting $170.23. The company had a trading volume of 27,184 shares, compared to its average volume of 452,824. The company has a market cap of $11.27 billion, a PE ratio of 53.70, a P/E/G ratio of 1.89 and a beta of 1.03. The business has a 50-day moving average of $171.26 and a 200-day moving average of $157.89. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord has a 1-year low of $122.49 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts forecast that Regal Rexnord will post 9.25 earnings per share for the current year.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. lifted its holdings in shares of Regal Rexnord by 7.1% during 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 purchasing an additional 209,776 shares during the last quarter. State Street Corp lifted its stake in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after acquiring an additional 24,860 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after purchasing an additional 563,853 shares during the period. Dimensional Fund Advisors LP grew its position in Regal Rexnord by 0.6% during the second 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 buying an additional 83,823 shares during the period. 99.72% of the stock is owned by hedge funds and other 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.