Regal Rexnord (NYSE:RRX) Price Target Raised to $195.00 at The Goldman Sachs Group

Regal Rexnord (NYSE:RRX - Get Free Report) had its target price lifted by stock analysts at The Goldman Sachs Group from $173.00 to $195.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 30.29% from the stock's previous close.

Several other research analysts have also recently weighed in on RRX. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Citigroup reiterated a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Barclays boosted their price objective on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Robert W. Baird boosted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $184.63.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded up $0.65 on Tuesday, reaching $149.67. 950,208 shares of the stock were exchanged, compared to its average volume of 597,353. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 1.51 and a beta of 1.17. The business has a 50 day moving average price of $138.03 and a two-hundred day moving average price of $133.95.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The company 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%. Regal Rexnord's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. Analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 175,954 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company's stock.

Institutional Trading of Regal Rexnord

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Regal Rexnord by 69.0% during the second quarter. Parallel Advisors LLC now owns 818 shares of the company's stock worth $119,000 after purchasing an additional 334 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Regal Rexnord by 32.6% during the first quarter. Voya Investment Management LLC now owns 43,698 shares of the company's stock worth $4,975,000 after purchasing an additional 10,755 shares in the last quarter. First Hawaiian Bank increased its position in shares of Regal Rexnord by 30.0% during the first quarter. First Hawaiian Bank now owns 6,801 shares of the company's stock worth $774,000 after purchasing an additional 1,571 shares in the last quarter. Inspire Investing LLC increased its position in shares of Regal Rexnord by 57.6% during the first quarter. Inspire Investing LLC now owns 2,640 shares of the company's stock worth $301,000 after purchasing an additional 965 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Regal Rexnord during the first quarter worth approximately $6,489,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.