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

Regal Rexnord (NYSE:RRX) had its target price dropped by equities researchers at Barclays from $190.00 to $176.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 26.65% from the stock’s previous close.

A number of other analysts have also commented on the company. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Price Performance

RRX stock traded up $2.56 during trading on Friday, reaching $138.97. 119,810 shares of the company were exchanged, compared to its average volume of 575,421. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 47.11, a P/E/G ratio of 1.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.35. The company has a 50-day moving average of $157.56 and a two-hundred day moving average of $162.58. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts predict that Regal Rexnord will post 10.32 earnings per share for the current fiscal year.

Institutional Trading of Regal Rexnord

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc boosted its holdings in Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after purchasing an additional 61 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Regal Rexnord by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after purchasing an additional 77 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after acquiring an additional 85 shares during the period. 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.