Regal Rexnord (NYSE:RRX) Price Target Cut to $195.00 by Analysts at JPMorgan Chase & Co.

by · The Cerbat Gem

Regal Rexnord (NYSE:RRX – Get Free Report) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $196.00 to $195.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.92% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Citigroup upped their target price on Regal Rexnord from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. KeyCorp cut their price objective on Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Regal Rexnord from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Oppenheimer dropped their price target on Regal Rexnord from $245.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. Finally, The Goldman Sachs Group set a $216.00 price objective on shares of Regal Rexnord in a research report on Wednesday, September 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.25.

Check Out Our Latest Analysis on Regal Rexnord

Regal Rexnord Price Performance

Shares of RRX traded up $5.89 during mid-day trading on Wednesday, hitting $185.85. 313,850 shares of the company were exchanged, compared to its average volume of 1,155,526. The company has a 50 day moving average of $159.14 and a 200-day moving average of $189.79. Regal Rexnord has a 1-year low of $127.96 and a 1-year high of $247.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.15 and a current ratio of 2.21. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09.

Regal Rexnord (NYSE:RRX – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.25. Regal Rexnord had a net margin of 3.77% and a return on equity of 10.28%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company posted $2.51 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Regal Rexnord will post 10.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Regal Rexnord during the second quarter valued at approximately $1,477,356,000. Bank of New York Mellon Corp acquired a new stake in Regal Rexnord in the 2nd quarter worth about $449,281,000. Wellington Management Group LLP grew its position in Regal Rexnord by 75.8% during the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company’s stock worth $615,496,000 after buying an additional 1,113,888 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Regal Rexnord during the second quarter worth about $254,637,000. Finally, Bessemer Group Inc. raised its position in Regal Rexnord by 4,155.4% during the first quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock valued at $171,541,000 after purchasing an additional 894,527 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Company Profile

(Get Free Report)

Regal Rexnord Corporation designs, manufactures and sells products and systems that transmit power, control motion and move materials. Its offerings include electric motors, gear drives, bearings, couplings, clutches, brakes, conveyor components and automation technologies. The company serves customers in a range of industries, including industrial manufacturing, food and beverage, energy, commercial buildings and residential applications. Its products are used in equipment and systems such as factory machinery, conveyors, HVAC systems and material-handling operations.

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