Barclays Increases Regal Rexnord (NYSE:RRX) Price Target to $190.00

Regal Rexnord (NYSE:RRX) had its target price boosted by equities research analysts at Barclays from $180.00 to $190.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 15.96% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Raymond James initiated coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird lifted their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. KeyCorp reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $192.71.

Regal Rexnord Trading Down 0.5 %

Shares of RRX stock opened at $163.85 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The firm has a market cap of $10.90 billion, a P/E ratio of -341.35, a PEG ratio of 1.76 and a beta of 1.04. The company has a 50 day moving average of $159.17 and a 200-day moving average of $156.66. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business posted $2.56 earnings per share. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord will post 9.48 earnings per share for the current year.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently modified their holdings of RRX. Rise Advisors LLC purchased a new stake in Regal Rexnord in the first quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at $52,000. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord during the 1st quarter worth $68,000. Finally, Riverview Trust Co purchased a new position in Regal Rexnord in the first quarter worth $75,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

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.