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

Regal Rexnord (NYSE:RRX - Get Free Report) had its price objective reduced by equities researchers at Barclays from $205.00 to $190.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 22.53% from the stock's current price.

Several other research analysts have also recently commented on the stock. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective on the stock. Loop Capital reissued a "buy" rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird decreased their target price on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $203.25.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $1.11 during mid-day trading on Wednesday, hitting $155.07. The company's stock had a trading volume of 374,108 shares, compared to its average volume of 478,442. The stock has a market capitalization of $10.27 billion, a P/E ratio of 48.92, a P/E/G ratio of 1.83 and a beta of 1.04. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The stock's fifty day moving average price is $167.21 and its two-hundred day moving average price is $160.59. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. Regal Rexnord's revenue for the quarter was down 10.4% compared to the same quarter last year. Research analysts forecast that Regal Rexnord will post 9.24 earnings per share for the current year.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in Regal Rexnord during the second quarter worth approximately $46,000. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after buying an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after buying an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock worth $75,000 after buying an additional 67 shares during the period. Finally, Quarry LP grew its stake in Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company's stock valued at $118,000 after buying an additional 768 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

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.