In a report released yesterday, Julian Mitchell from Barclays maintained a Buy rating on Regal Rexnord (RRX – Research Report), with a price target of $170.00. The company’s shares closed yesterday at $140.76.
According to TipRanks, Mitchell is a 5-star analyst with an average return of 14.9% and a 64.46% success rate. Mitchell covers the Industrials sector, focusing on stocks such as 3M, Dover, and General Electric.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Regal Rexnord with a $169.50 average price target, representing a 20.42% upside. In a report released on January 23, Robert W. Baird also maintained a Buy rating on the stock with a $166.00 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
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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.
Read More on RRX:
- REGAL REXNORD REPORTS FOURTH QUARTER 2023 FINANCIAL RESULTS, CAPPING OFF A YEAR OF RECORD ANNUAL ADJUSTED FREE CASH FLOW AND SIGNIFICANT PORTFOLIO TRANSFORMATION
- RRX Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Regal Rexnord Corporation Declares Quarterly Dividend of $.35 per share.
- Regal Rexnord bullish Fresh Pick removed, at Baird
- Regal Rexnord price target raised to $180 from $148 at KeyBanc
