The Goldman Sachs Group Cuts Regal Rexnord (NYSE:RRX) Price Target to $163.00

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

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup decreased 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 report on Tuesday, January 14th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Barclays cut their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $188.88.

Regal Rexnord Stock Up 5.6 %

Shares of RRX traded up $6.45 during mid-day 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 current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $134.26 and its 200-day moving average is $155.14. Regal Rexnord has a 52-week low of $111.15 and a 52-week high of $185.28. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 41.07, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, equities research analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently made changes to their positions in RRX. Cerity Partners LLC grew its stake in Regal Rexnord by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock valued at $436,000 after purchasing an additional 276 shares during the last quarter. Townsquare Capital LLC acquired a new position in Regal Rexnord in the 3rd quarter worth approximately $267,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Regal Rexnord during the 3rd quarter worth approximately $255,000. Paloma Partners Management Co acquired a new stake in Regal Rexnord during the 3rd quarter valued at approximately $245,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Regal Rexnord by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,451 shares of the company’s stock valued at $403,000 after acquiring an additional 167 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.