KeyCorp Has Lowered Expectations for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX - Get Free Report) had its price target cut by equities research analysts at KeyCorp from $180.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 26.16% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th. Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $170.75.

Regal Rexnord Trading Up 2.5 %

NYSE RRX traded up $2.40 during mid-day trading on Tuesday, reaching $99.08. 1,542,639 shares of the stock were exchanged, compared to its average volume of 524,409. The stock has a market capitalization of $6.57 billion, a PE ratio of 33.59, a PEG ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $185.28. The business's fifty day simple moving average is $122.43 and its 200 day simple moving average is $150.80.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. raised its position in shares of Regal Rexnord by 117,950.0% during the 1st quarter. NBC Securities Inc. now owns 2,361 shares of the company's stock valued at $268,000 after acquiring an additional 2,359 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 11,369.4% during the first quarter. GAMMA Investing LLC now owns 123,755 shares of the company's stock worth $14,090,000 after purchasing an additional 122,676 shares during the period. First Hawaiian Bank lifted its position in shares of Regal Rexnord by 30.0% in the 1st quarter. First Hawaiian Bank now owns 6,801 shares of the company's stock worth $774,000 after buying an additional 1,571 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Regal Rexnord by 11.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,478 shares of the company's stock valued at $540,000 after buying an additional 346 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Regal Rexnord during the 4th quarter valued at about $1,427,000. Institutional investors 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.