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

Regal Rexnord (NYSE:RRX) had its price target reduced by equities researchers at Barclays from $205.00 to $190.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 22.53% from the company’s previous close.

A number of other equities analysts also recently commented on RRX. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Loop Capital restated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Robert W. Baird reduced their price target on 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 investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Buy” and an average target price of $203.25.

Regal Rexnord Stock Down 0.7 %

RRX stock opened at $155.07 on Wednesday. The company has a 50 day moving average of $166.93 and a two-hundred day moving average of $160.56. The company 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 has a 12-month low of $130.94 and a 12-month high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

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

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds have recently made changes to their positions in the stock. Diamond Hill Capital Management Inc. boosted its position in shares of Regal Rexnord by 7.1% during the 2nd 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 in the last quarter. State Street Corp boosted its holdings in Regal Rexnord by 1.3% during the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after purchasing an additional 24,860 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 worth $213,971,000 after buying an additional 83,823 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares during the period. 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.