KeyCorp Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price target decreased by stock analysts at KeyCorp from $180.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 26.33% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Citigroup reduced their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Oppenheimer cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.75.

Regal Rexnord Trading Up 3.3 %

Shares of NYSE RRX traded up $3.16 during trading hours on Tuesday, reaching $98.94. The stock had a trading volume of 139,472 shares, compared to its average volume of 677,880. 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 business’s fifty day moving average price is $129.48 and its two-hundred day moving average price is $153.44. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 33.54, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $185.28.

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

Institutional Trading of Regal Rexnord

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