Regal Rexnord (NYSE:RRX) Stock Price Expected to Rise, Barclays Analyst Says

Regal Rexnord (NYSE:RRX) had its price objective upped by equities researchers at Barclays from $237.00 to $245.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 29.35% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Oppenheimer raised their target price on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a report on Friday, February 6th. Finally, Citigroup upped their price target on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Regal Rexnord Stock Performance

Shares of NYSE RRX traded up $14.01 during midday trading on Monday, hitting $189.41. The company’s stock had a trading volume of 277,383 shares, compared to its average volume of 1,109,783. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 45.15, a P/E/G ratio of 1.63 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $190.08 and a 200 day moving average price of $159.66. Regal Rexnord has a one year low of $90.56 and a one year high of $229.30.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm earned $2.34 EPS. Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Regal Rexnord news, CFO Robert Rehard sold 968 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the transaction, the chief financial officer directly owned 34,447 shares in the company, valued at $7,681,681. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the sale, the director directly owned 15,617 shares in the company, valued at approximately $2,811,060. The trade was a 22.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,451 shares of company stock worth $11,386,689 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd raised its stake in Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $27,000. Garner Asset Management Corp bought a new position in shares of Regal Rexnord in the 4th quarter worth $27,000. IFP Advisors Inc increased its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.