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

Regal Rexnord (NYSE:RRX - Get Free Report) had its price objective hoisted by stock analysts at The Goldman Sachs Group from $173.00 to $195.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 28.54% from the company's current price.

A number of other equities research analysts also recently weighed in on RRX. Citigroup restated a "buy" rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Robert W. Baird lifted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Barclays lifted their price objective on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of "Buy" and an average target price of $185.25.

Regal Rexnord Price Performance

RRX traded up $0.03 during trading on Tuesday, hitting $151.71. The company's stock had a trading volume of 313,298 shares, compared to its average volume of 598,335. The firm's 50 day moving average price is $139.83 and its two-hundred day moving average price is $134.04. 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 12 month low of $90.56 and a 12 month high of $185.28. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 43.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 175,954 shares of the company's stock, valued at $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $1,427,000. JPMorgan Chase & Co. boosted its position in shares of Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after buying an additional 247,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Rexnord by 16.7% during the fourth 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 period. Atria Investments Inc boosted its position in shares of Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after buying an additional 759 shares during the period. Finally, Norges Bank acquired a new position in shares of Regal Rexnord during the fourth quarter worth about $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.