Oppenheimer Cuts Regal Rexnord (NYSE:RRX) Price Target to $190.00

Regal Rexnord (NYSE:RRX) had its target price cut by equities researchers at Oppenheimer from $210.00 to $190.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 36.57% from the stock’s current price.

A number of other research analysts have also issued reports on RRX. Barclays decreased their target price on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Robert W. Baird reduced their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Finally, Citigroup reduced their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.50.

Regal Rexnord Stock Down 2.6 %

NYSE:RRX traded down $3.75 during mid-day trading on Friday, reaching $139.12. The company’s stock had a trading volume of 398,100 shares, compared to its average volume of 537,890. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28. The stock has a fifty day moving average of $160.47 and a 200-day moving average of $162.90. The firm has a market capitalization of $9.21 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. Equities research analysts forecast that Regal Rexnord will post 9.24 earnings per share for the current year.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Tobam acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $45,000. Jones Financial Companies Lllp grew its holdings 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 period. Smartleaf Asset Management LLC grew its holdings in Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares during the last quarter. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.