Barclays analyst Julian Mitchell maintained a Buy rating on Regal Rexnord (RRX – Research Report) yesterday and set a price target of $196.00. The company’s shares closed yesterday at $137.03.
Mitchell covers the Industrials sector, focusing on stocks such as 3M, Illinois Tool Works, and Regal Rexnord. According to TipRanks, Mitchell has an average return of 13.7% and a 64.88% success rate on recommended stocks.
Currently, the analyst consensus on Regal Rexnord is a Strong Buy with an average price target of $195.20, implying a 42.45% upside from current levels. In a report released yesterday, Oppenheimer also initiated coverage with a Buy rating on the stock with a $200.00 price target.
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RRX market cap is currently $9.09B and has a P/E ratio of 37.18.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RRX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Regal Rexnord (RRX) Company Description:
Regal Beloit Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. The Commercial and Industrial Systems produces medium and large motors, commercial and industrial equipment, generator, and custom drives and systems. The Climate Solutions segment offers small motors, controls, and air moving solutions serving markets including residential and light commercial HVAC, water heaters and commercial refrigeration. The Power Transmission Solutions segment manufactures, sells, and services belt and chain drives, helical and worm gearing, mounted and unmounted bearings, couplings, modular plastic belts, conveying chains and components, hydraulic pump drives, large open gearing, and specialty mechanical products serving markets including beverage, bulk handling, metals, special machinery, energy, aerospace, and general industrial. The company was founded in 1955 and is headquartered in Beloit, WI.
Read More on RRX:
- Regal Rexnord price target lowered to $196 from $206 at Barclays
- Regal Rexnord Corporation Announces Definitive Agreement To Sell Its Industrial Motors & Generators Businesses To WEG
- Regal Rexnord to sell Industrial Motors and Generators business to WEG
- Regal Rexnord management to meet with Loop Capital
