Regal Rexnord (NYSE:RRX) Price Target Cut to $208.00 by Analysts at Robert W. Baird

Regal Rexnord (NYSE:RRX) had its price objective cut by analysts at Robert W. Baird from $223.00 to $208.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 23.74% from the stock’s current price.

Several other equities research analysts have also recently commented on RRX. Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Price Performance

Shares of RRX opened at $168.10 on Wednesday. The firm’s 50-day simple moving average is $165.24 and its two-hundred day simple moving average is $156.19. Regal Rexnord has a fifty-two week low of $100.00 and a fifty-two week high of $183.85. The stock has a market cap of $11.19 billion, a PE ratio of -8,405.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.45 by $0.04. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 EPS. Analysts anticipate that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Regal Rexnord during the second quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord during the 2nd quarter worth $52,000. UMB Bank n.a. raised its position in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Regal Rexnord in the 1st quarter worth $68,000. Finally, GAMMA Investing LLC grew its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after buying an additional 79 shares in 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.