Regal Rexnord (NYSE:RRX) PT Lowered to $180.00

Regal Rexnord (NYSE:RRX) had its price target decreased by equities researchers at Barclays from $181.00 to $180.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 22.30% from the stock’s current price.

RRX has been the subject of several other reports. Raymond James initiated coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird increased their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, KeyCorp cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $188.80.

Regal Rexnord Stock Performance

Regal Rexnord stock traded down $15.78 on Friday, reaching $147.18. 239,784 shares of the stock were exchanged, compared to its average volume of 455,393. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The firm has a fifty day moving average price of $144.37 and a two-hundred day moving average price of $155.05. The stock has a market cap of $9.79 billion, a PE ratio of -310.00, a PEG ratio of 1.65 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.19% and a negative net margin of 0.02%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company earned $2.56 EPS. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Regal Rexnord will post 9.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Auxano Advisors LLC raised its stake in shares of Regal Rexnord by 28.9% in the second quarter. Auxano Advisors LLC now owns 7,803 shares of the company’s stock valued at $1,055,000 after acquiring an additional 1,748 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Regal Rexnord during the 2nd quarter worth about $13,160,000. iA Global Asset Management Inc. acquired a new position in Regal Rexnord during the 2nd quarter valued at about $346,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Regal Rexnord by 31.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock worth $2,662,000 after buying an additional 4,701 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Regal Rexnord by 31.5% in the second quarter. Principal Financial Group Inc. now owns 714,179 shares of the company’s stock valued at $96,571,000 after buying an additional 171,069 shares during the period. 99.72% of the stock is owned by institutional investors.

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.