Regal Rexnord (NYSE:RRX) Price Target Cut to $160.00 by Analysts at Barclays

Regal Rexnord (NYSE:RRX) had its price objective reduced by Barclays from $176.00 to $160.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 33.54% from the company’s current price.

Several other analysts have also recently issued reports on RRX. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Citigroup dropped their price target 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 increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Trading Down 2.3 %

RRX stock traded down $2.81 during mid-day trading on Monday, hitting $119.81. 86,622 shares of the company were exchanged, compared to its average volume of 468,180. The business has a fifty day simple moving average of $146.62 and a 200-day simple moving average of $159.72. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 12-month low of $117.19 and a 12-month high of $185.28. The firm has a market capitalization of $7.94 billion, a P/E ratio of 40.56, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 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%. On average, equities research analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

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

About Regal Rexnord

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.