Barclays Has Lowered Expectations for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its target price dropped by investment analysts at Barclays from $160.00 to $155.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 28.31% from the company’s current price.

A number of other research firms have also recently commented on RRX. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Citigroup lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $195.13.

Regal Rexnord Trading Down 1.7 %

RRX opened at $120.80 on Wednesday. The stock has a fifty day moving average price of $136.83 and a 200-day moving average price of $155.77. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, equities research analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord during the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the fourth quarter valued at $33,000. Tobam purchased a new stake in shares of Regal Rexnord during the fourth quarter worth about $45,000. Finally, Jones Financial Companies Lllp raised its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after purchasing an additional 153 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.