Robert W. Baird Lowers Regal Rexnord (NYSE:RRX) Price Target to $208.00

Regal Rexnord (NYSE:RRX - Get Free Report) had its target price lowered by analysts at Robert W. Baird from $223.00 to $208.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price points to a potential upside of 13.72% from the stock's previous close.

RRX has been the topic of several other reports. Loop Capital reiterated a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Citigroup started coverage on Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price target for the company. Finally, Barclays upped their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Regal Rexnord Stock Performance

RRX traded up $14.94 during trading on Wednesday, reaching $182.91. The company's stock had a trading volume of 738,514 shares, compared to its average volume of 450,615. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 53.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. The company's fifty day moving average price is $165.24 and its 200-day moving average price is $156.19. Regal Rexnord has a 52-week low of $100.00 and a 52-week high of $184.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. Regal Rexnord's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. On average, equities analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Institutional Trading of Regal Rexnord

A number of hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake in Regal Rexnord by 8.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company's stock valued at $10,515,000 after purchasing an additional 4,342 shares in the last quarter. Blair William & Co. IL increased its position in Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company's stock worth $1,399,000 after buying an additional 4,798 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Regal Rexnord by 18.6% during the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company's stock valued at $54,486,000 after buying an additional 47,379 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Regal Rexnord by 1,036.4% in the first quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company's stock worth $1,940,000 after buying an additional 9,825 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in Regal Rexnord by 64.4% during the first quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock worth $84,012,000 after purchasing an additional 182,770 shares during the period. 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.