Regal Rexnord (NYSE:RRX) Price Target Raised to $165.00 at Citigroup

Regal Rexnord (NYSE:RRX) had its target price lifted by investment analysts at Citigroup from $145.00 to $165.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 13.55% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Barclays lifted their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. KeyCorp decreased their price objective on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Robert W. Baird raised their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Buy” and a consensus price target of $173.75.

Regal Rexnord Stock Up 3.0%

Shares of NYSE:RRX traded up $4.30 during trading hours on Tuesday, hitting $145.31. The company’s stock had a trading volume of 183,709 shares, compared to its average volume of 580,844. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The firm’s fifty day moving average price is $127.84 and its 200 day moving average price is $135.00. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 1.43 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts expect that Regal Rexnord will post 9.95 EPS for the current year.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now directly owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in Regal Rexnord in the fourth quarter valued at approximately $1,427,000. JPMorgan Chase & Co. lifted its holdings in shares of Regal Rexnord by 56.8% in the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. Atria Investments Inc boosted its position in shares of Regal Rexnord by 48.9% in the 4th quarter. Atria Investments Inc now owns 2,310 shares of the company’s stock valued at $358,000 after purchasing an additional 759 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Regal Rexnord by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock worth $2,613,000 after buying an additional 2,414 shares during the last quarter. Finally, Norges Bank purchased a new position in Regal Rexnord during the 4th quarter worth approximately $235,188,000. 99.72% of the stock is owned by institutional investors and hedge funds.

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.