Regal Rexnord (NYSE:RRX) Price Target Lowered to $125.00 at KeyCorp

Regal Rexnord (NYSE:RRX) had its target price cut by KeyCorp from $180.00 to $125.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 16.72% from the stock’s previous close.

A number of other analysts have also issued reports on the company. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Oppenheimer reduced their target price on 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, The Goldman Sachs Group reduced their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Stock Performance

Shares of RRX opened at $107.09 on Tuesday. The firm has a market cap of $7.10 billion, a PE ratio of 36.30, a PEG ratio of 1.37 and a beta of 1.09. The stock’s fifty day moving average price is $124.65 and its two-hundred day moving average price is $151.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. On average, equities research analysts forecast that Regal Rexnord will post 9.95 EPS for the current year.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after purchasing an additional 363,728 shares in the last quarter. State Street Corp boosted its holdings in shares of Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares in the last quarter. Norges Bank purchased a new position in shares of Regal Rexnord in the 4th quarter worth about $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock worth $206,729,000 after purchasing an additional 42,704 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Regal Rexnord by 7.2% in the 3rd 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. 99.72% of the stock is currently 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.