Regal Rexnord Co. (NYSE:RRX) Receives $193.63 Consensus Price Target from Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $193.63.

Several research analysts have recently weighed in on the company. Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James initiated coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group boosted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th.

Regal Rexnord Stock Down 0.0 %

Shares of RRX opened at $167.93 on Friday. The company has a market capitalization of $11.17 billion, a PE ratio of -8,396.50, a PEG ratio of 1.79 and a beta of 1.04. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The stock’s 50-day moving average price is $164.16 and its two-hundred day moving average price is $156.05. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $2.56 EPS. The business’s quarterly revenue was down 12.5% on a year-over-year basis. On average, analysts anticipate that Regal Rexnord will post 9.48 EPS for the current year.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after buying an additional 24,847 shares during the last quarter. Capital World Investors lifted its stake in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Regal Rexnord by 7.1% during 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 buying an additional 209,776 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after buying an additional 563,853 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after buying an additional 8,159 shares in the last quarter. 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.