Regal Rexnord (NYSE:RRX) Given New $160.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its target price hoisted by equities researchers at Barclays from $155.00 to $160.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 10.19% from the company’s previous close.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Robert W. Baird raised their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup increased their target price on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.25.

Regal Rexnord Price Performance

NYSE:RRX opened at $145.21 on Monday. The company has a market cap of $9.63 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.37 and a beta of 1.11. The firm’s fifty day moving average price is $112.31 and its two-hundred day moving average price is $142.03. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.33. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Regal Rexnord’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 EPS. Equities analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Roubaix Capital LLC boosted its position in shares of Regal Rexnord by 2.2% during the 1st quarter. Roubaix Capital LLC now owns 32,034 shares of the company’s stock worth $3,647,000 after acquiring an additional 689 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Regal Rexnord by 9.7% during the first quarter. Raymond James Financial Inc. now owns 157,854 shares of the company’s stock worth $17,971,000 after purchasing an additional 13,946 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Regal Rexnord by 2.0% in the 1st quarter. American Century Companies Inc. now owns 442,718 shares of the company’s stock valued at $50,404,000 after purchasing an additional 8,588 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Regal Rexnord in the 1st quarter valued at $25,678,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Regal Rexnord by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after buying an additional 396,737 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.