Regal Rexnord (NYSE:RRX) Given New $208.00 Price Target at Robert W. Baird

Regal Rexnord (NYSE:RRX) had its target price raised by stock analysts at Robert W. Baird from $205.00 to $208.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 32.18% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Barclays increased their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp raised their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Oppenheimer upped their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.40.

Regal Rexnord Price Performance

RRX stock opened at $157.36 on Wednesday. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85. The firm has a market capitalization of $10.46 billion, a PE ratio of -180.87, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The business has a 50 day simple moving average of $169.70 and a 200-day simple moving average of $146.61.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $2.22 earnings per share. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Regal Rexnord will post 10.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock worth $892,301 over the last 90 days. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RRX. Norges Bank acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $180,918,000. Third Point LLC purchased a new stake in Regal Rexnord in the 3rd quarter valued at approximately $92,872,000. The Manufacturers Life Insurance Company increased its position in Regal Rexnord by 167.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after purchasing an additional 593,862 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $71,899,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Regal Rexnord by 87.3% in the 4th quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock valued at $148,249,000 after buying an additional 466,820 shares during the period. Institutional investors and hedge funds 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.