Barclays Lowers Regal Rexnord (NYSE:RRX) Price Target to $176.00

Regal Rexnord (NYSE:RRX) had its target price decreased by analysts at Barclays from $190.00 to $176.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 28.18% from the company’s current price.

RRX has been the subject of several other research reports. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, 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 note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $137.31 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 46.55, a PEG ratio of 1.38 and a beta of 1.03. The company’s 50-day moving average price is $156.24 and its 200 day moving average price is $162.30. Regal Rexnord has a 52 week low of $130.94 and a 52 week high of $185.28.

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 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, research analysts forecast that Regal Rexnord will post 10.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its holdings 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 purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord in the 4th quarter valued at $33,000. Tobam acquired a new position in shares of Regal Rexnord during the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp boosted its position 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. 99.72% of the stock is currently 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.