Barclays Increases Regal Rexnord (NYSE:RRX) Price Target to $157.00

Posted by AM Reporter Staff on Aug 6th, 2022

Regal Rexnord (NYSE:RRX – Get Rating) had its price target increased by Barclays from $140.00 to $157.00 in a report issued on Wednesday, The Fly reports.

Several other research analysts have also issued reports on the stock. KeyCorp decreased their price target on shares of Regal Rexnord from $185.00 to $155.00 and set an overweight rating for the company in a research note on Tuesday, July 12th. StockNews.com raised shares of Regal Rexnord from a hold rating to a buy rating in a research report on Friday, July 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $181.00 to $150.00 and set a buy rating on the stock in a research report on Thursday, June 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of Buy and an average target price of $162.60.

Regal Rexnord Stock Down 0.1 %

Shares of Regal Rexnord stock opened at $136.67 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 1.55. The company has a 50-day moving average of $120.64 and a 200 day moving average of $137.54. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.27 and a beta of 1.27. Regal Rexnord has a 1 year low of $108.28 and a 1 year high of $176.91.

Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.15. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Regal Rexnord had a net margin of 6.99% and a return on equity of 11.15%. Regal Rexnord’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period last year, the business earned $2.28 EPS. As a group, sell-side analysts anticipate that Regal Rexnord will post 10.63 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, September 29th. Regal Rexnord’s dividend payout ratio (DPR) is 25.00%.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently made changes to their positions in the stock. MQS Management LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $337,000. M&T Bank Corp boosted its holdings in shares of Regal Rexnord by 14.3% during the 2nd quarter. M&T Bank Corp now owns 8,557 shares of the company’s stock valued at $837,000 after acquiring an additional 1,073 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at about $93,000. Thompson Investment Management Inc. boosted its holdings in shares of Regal Rexnord by 3.1% during the 2nd quarter. Thompson Investment Management Inc. now owns 25,312 shares of the company’s stock valued at $2,873,000 after acquiring an additional 756 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Regal Rexnord by 0.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 82,974 shares of the company’s stock valued at $9,419,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 98.16% of the company’s stock.

About Regal Rexnord

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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.