Oppenheimer Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX - Get Free Report) had its price objective lowered by analysts at Oppenheimer from $210.00 to $190.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price indicates a potential upside of 40.11% from the company's previous close.

RRX has been the topic of several other reports. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective on the stock. StockNews.com cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Barclays lowered their target price on Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.50.

Regal Rexnord Price Performance

RRX stock traded down $0.89 during trading on Friday, hitting $135.61. The stock had a trading volume of 635,044 shares, compared to its average volume of 568,961. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.35. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The stock has a market capitalization of $8.98 billion, a P/E ratio of 45.97, a PEG ratio of 1.38 and a beta of 1.03. The company's 50-day moving average price is $159.03 and its two-hundred day moving average price is $162.90.

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%. As a group, research analysts predict that Regal Rexnord will post 10.32 EPS for the current fiscal year.

Institutional Trading of Regal Rexnord

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its stake in Regal Rexnord by 28.5% in the second quarter. Creative Planning now owns 2,805 shares of the company's stock valued at $379,000 after buying an additional 622 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Regal Rexnord during the second quarter worth about $263,000. GAMMA Investing LLC grew its holdings in shares of Regal Rexnord by 30.0% during the third quarter. GAMMA Investing LLC now owns 841 shares of the company's stock worth $140,000 after purchasing an additional 194 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after purchasing an additional 145 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Regal Rexnord during the third quarter worth about $271,000. Hedge funds and other 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.