Robert W. Baird Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price objective dropped by stock analysts at Robert W. Baird from $223.00 to $208.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 23.74% from the stock’s current price.

A number of other equities research analysts have also recently commented on RRX. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, KeyCorp decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Trading Down 1.2 %

NYSE RRX opened at $168.10 on Wednesday. The firm has a market cap of $11.19 billion, a PE ratio of -8,405.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $165.24 and a 200 day moving average price of $156.19. Regal Rexnord has a 52 week low of $100.00 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.04. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $2.10 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of Regal Rexnord in the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. acquired a new position in Regal Rexnord during the second quarter worth $52,000. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord during the 1st quarter valued at about $68,000. Finally, GAMMA Investing LLC grew its holdings in shares of Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.