Regal Rexnord (NYSE:RRX) Given New $245.00 Price Target at Barclays

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

A number of other brokerages have also recently commented on RRX. Oppenheimer increased their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Citigroup upped their price objective on shares of Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, KeyCorp boosted their price target on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.50.

Regal Rexnord Price Performance

RRX stock traded up $14.01 during mid-day trading on Monday, hitting $189.41. 277,383 shares of the stock were exchanged, compared to its average volume of 1,109,783. The business has a fifty day moving average price of $190.08 and a 200 day moving average price of $159.66. Regal Rexnord has a 12 month low of $90.56 and a 12 month high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.63 and a beta of 1.05.

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

Insider Activity

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the sale, the executive vice president owned 13,219 shares of the company’s stock, valued at $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Rehard sold 7,704 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the sale, the chief financial officer directly owned 34,154 shares of the company’s stock, valued at $7,401,854.88. The trade was a 18.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Regal Rexnord by 208.1% in the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after purchasing an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. raised its position in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Allworth Financial LP lifted its holdings in Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Regal Rexnord by 6.7% in the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

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.