Regal Rexnord (NYSE:RRX) Given New $190.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its target price cut by equities researchers at Barclays from $205.00 to $190.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 21.71% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RRX. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Citigroup assumed coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Finally, Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $203.25.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $156.11 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company’s 50 day simple moving average is $167.21 and its 200-day simple moving average is $160.59. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. Regal Rexnord’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. As a group, equities research analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its holdings in shares of Regal Rexnord by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 11,206 shares of the company’s stock valued at $1,476,000 after buying an additional 431 shares during the period. Choreo LLC acquired a new stake in Regal Rexnord in the second quarter valued at $394,000. Texas Permanent School Fund Corp boosted its position in shares of Regal Rexnord by 7.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock worth $8,397,000 after purchasing an additional 4,076 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord during the 2nd quarter worth $46,000. Finally, Qsemble Capital Management LP increased its holdings in shares of Regal Rexnord by 376.6% in the 2nd quarter. Qsemble Capital Management LP now owns 5,300 shares of the company’s stock valued at $717,000 after purchasing an additional 4,188 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 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.