Regal Rexnord (NYSE:RRX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Regal Rexnord (NYSE:RRX) had its price target lifted by equities researchers at The Goldman Sachs Group from $191.00 to $213.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 26.16% from the company’s current price.

RRX has been the subject of several other reports. Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Barclays increased their target price on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday. They set a “buy” rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Regal Rexnord Trading Down 1.5 %

RRX opened at $168.83 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $11.18 billion, a PE ratio of 53.26, a PEG ratio of 1.84 and a beta of 1.03. The firm has a 50-day moving average price of $171.79 and a two-hundred day moving average price of $158.62. Regal Rexnord has a 1-year low of $130.94 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. As a group, equities analysts anticipate that Regal Rexnord will post 9.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. increased its stake in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the last quarter. State Street Corp raised its holdings in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after buying an additional 24,860 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after acquiring an additional 563,853 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Regal Rexnord by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after purchasing an additional 8,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after acquiring an additional 83,823 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

About Regal Rexnord

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.