In a report released today, Jeffrey Hammond from KeyBanc reiterated a Buy rating on Regal Rexnord (RRX – Research Report), with a price target of $148.00. The company’s shares closed yesterday at $123.82.
According to TipRanks, Hammond is a 5-star analyst with an average return of 9.1% and a 57.84% success rate. Hammond covers the Industrials sector, focusing on stocks such as Generac Holdings, Lennox International, and Trane Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Regal Rexnord with a $163.00 average price target, representing a 31.64% upside. In a report released on November 30, Oppenheimer also maintained a Buy rating on the stock with a $175.00 price target.
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Based on Regal Rexnord’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.65 billion and a GAAP net loss of $139.5 million. In comparison, last year the company earned a revenue of $1.33 billion and had a net profit of $119.8 million
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RRX in relation to earlier this year.
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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.
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