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

Regal Rexnord (NYSE:RRX - Get Free Report) had its target price hoisted by Citigroup from $145.00 to $165.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 13.55% from the stock's previous close.

RRX has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays increased their target price on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, KeyCorp lowered their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of "Buy" and an average price target of $173.75.

Regal Rexnord Price Performance

NYSE:RRX traded up $4.30 during trading hours on Tuesday, hitting $145.31. The stock had a trading volume of 183,709 shares, compared to its average volume of 580,844. The firm 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. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The company has a 50 day simple moving average of $127.84 and a two-hundred day simple moving average of $135.00. 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 - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The firm's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 earnings per share. Research analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the transaction, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at $24,691,624.82. This represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.82% of the company's stock.

Institutional Trading of Regal Rexnord

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Regal Rexnord during the 4th quarter valued at $235,188,000. Nuveen LLC purchased a new position in Regal Rexnord during the first quarter valued at $117,996,000. Invesco Ltd. increased its holdings in Regal Rexnord by 76.3% in the 1st quarter. Invesco Ltd. now owns 932,829 shares of the company's stock valued at $106,203,000 after acquiring an additional 403,845 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Regal Rexnord by 79.8% in the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after purchasing an additional 399,267 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock valued at $194,955,000 after purchasing an additional 396,737 shares in the last quarter. 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.

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