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

Regal Rexnord (NYSE:RRX) had its price target lowered by Oppenheimer from $210.00 to $190.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 36.57% from the stock’s current price.

A number of other equities research analysts also recently issued reports on RRX. Barclays reduced their price target 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. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.50.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded down $3.75 on Friday, hitting $139.12. The stock had a trading volume of 398,100 shares, compared to its average volume of 537,890. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The business’s 50 day moving average is $160.47 and its two-hundred day moving average is $162.90. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 43.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last posted its 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%. Analysts forecast that Regal Rexnord will post 9.24 EPS for the current year.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently added to or reduced their stakes in the stock. Tobam bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $45,000. Jones Financial Companies Lllp lifted its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after buying an additional 105 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.