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

Regal Rexnord (NYSE:RRX) had its price target reduced by Barclays from $176.00 to $160.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 34.79% from the company’s current price.

RRX has been the topic of several other research reports. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Citigroup cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Oppenheimer dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group increased 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $118.70 on Monday. The company has a 50 day moving average of $145.17 and a 200 day moving average of $159.07. 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 stock has a market cap of $7.87 billion, a P/E ratio of 40.24, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently bought and sold shares of RRX. Jefferies Financial Group Inc. bought a new stake in Regal Rexnord during the 4th quarter valued at $1,427,000. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $31,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Regal Rexnord by 12.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,369 shares of the company’s stock valued at $368,000 after buying an additional 264 shares during the period. Integrated Advisors Network LLC bought a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $319,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Regal Rexnord in the fourth quarter worth $9,463,000. 99.72% of the stock is 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.