Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $199.00

Regal Rexnord (NYSE:RRX) had its price target cut by stock analysts at Barclays from $203.00 to $199.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 26.54% from the stock’s previous close.

RRX has been the topic of several other reports. Oppenheimer raised their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp raised their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Robert W. Baird increased their price target on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.60.

Regal Rexnord Stock Performance

NYSE RRX traded up $0.07 during trading hours on Wednesday, hitting $157.26. The company’s stock had a trading volume of 270,989 shares, compared to its average volume of 462,661. The company’s 50 day simple moving average is $169.70 and its two-hundred day simple moving average is $146.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The company has a market cap of $10.46 billion, a P/E ratio of -180.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, sell-side analysts expect that Regal Rexnord will post 10.05 EPS for the current fiscal year.

Insider Activity at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently bought and sold shares of RRX. FMR LLC grew its stake in Regal Rexnord by 2.1% in the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock worth $1,282,831,000 after acquiring an additional 181,889 shares in the last quarter. Vanguard Group Inc. lifted its stake in Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after acquiring an additional 24,847 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock worth $522,892,000 after acquiring an additional 135,154 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Regal Rexnord by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after acquiring an additional 30,688 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $180,918,000. Institutional investors own 99.72% of the company’s stock.

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.