Barclays Raises Regal Rexnord (NYSE:RRX) Price Target to $190.00

by · The Cerbat Gem

Regal Rexnord (NYSE:RRX – Free Report) had its target price boosted by Barclays from $180.00 to $190.00 in a research report released on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on RRX. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a buy rating in a research report on Friday, August 2nd. KeyCorp cut their price target on Regal Rexnord from $210.00 to $190.00 and set an overweight rating on the stock in a report on Monday, July 15th. Robert W. Baird raised their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Raymond James assumed coverage on Regal Rexnord in a research report on Friday, June 28th. They set a market perform rating on the stock. Finally, StockNews.com raised shares of Regal Rexnord from a hold rating to a buy rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $192.71.

View Our Latest Report on Regal Rexnord

Regal Rexnord Trading Up 2.4 %

Shares of RRX stock opened at $167.83 on Wednesday. The company has a market cap of $11.16 billion, a P/E ratio of -349.65, a PEG ratio of 1.76 and a beta of 1.04. The stock has a 50 day simple moving average of $159.41 and a two-hundred day simple moving average of $156.62. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 EPS. Research analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Trading of Regal Rexnord

Institutional investors and hedge funds have recently made changes to their positions in the company. American Trust bought a new stake in Regal Rexnord in the 2nd quarter worth about $218,000. Sanctuary Advisors LLC bought a new position in shares of Regal Rexnord in the second quarter valued at approximately $263,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Regal Rexnord in the second quarter valued at approximately $292,000. Quarry LP increased its position in shares of Regal Rexnord by 752.9% during the second quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after acquiring an additional 768 shares during the last quarter. Finally, Creative Planning lifted its holdings in Regal Rexnord by 28.5% during the second quarter. Creative Planning now owns 2,805 shares of the company’s stock worth $379,000 after acquiring an additional 622 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

(Get Free Report)

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.

See Also