The Goldman Sachs Group Has Lowered Expectations for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price objective dropped by research analysts at The Goldman Sachs Group from $183.00 to $163.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 34.52% from the company’s current price.

Several other research analysts have also commented on RRX. Jefferies Financial Group initiated coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Monday. Oppenheimer decreased 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. Barclays dropped their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Citigroup cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.88.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded up $6.45 during trading on Wednesday, hitting $121.17. The company’s stock had a trading volume of 307,688 shares, compared to its average volume of 492,209. The company has a 50-day moving average of $134.26 and a 200-day moving average of $155.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 12 month low of $111.15 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 3.25% and a return on equity of 9.57%. On average, sell-side analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC raised its stake in shares of Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after acquiring an additional 9,338 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $811,000. Franklin Resources Inc. grew its stake in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Regal Rexnord by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock worth $2,613,000 after purchasing an additional 2,414 shares during the period. Hedge funds and other 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.