Regal Rexnord (NYSE:RRX) Price Target Cut to $150.00

Regal Rexnord (NYSE:RRX – Get Rating) had its price objective lowered by investment analysts at The Goldman Sachs Group from $181.00 to $150.00 in a report issued on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 34.94% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Barclays cut their price target on Regal Rexnord from $170.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, May 24th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, May 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $176.60.

RRX traded down $0.53 during trading on Thursday, reaching $111.16. 4,097 shares of the stock were exchanged, compared to its average volume of 353,466. The business’s 50 day moving average price is $126.70 and its two-hundred day moving average price is $148.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.81 and a quick ratio of 1.55. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.05 and a beta of 1.24. Regal Rexnord has a 1 year low of $108.28 and a 1 year high of $176.91.

Regal Rexnord (NYSE:RRX – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.24. Regal Rexnord had a return on equity of 11.36% and a net margin of 6.28%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. On average, analysts anticipate that Regal Rexnord will post 10.58 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in Regal Rexnord during the first quarter worth about $978,777,000. BlackRock Inc. acquired a new stake in Regal Rexnord during the first quarter worth about $843,575,000. Capital World Investors acquired a new stake in Regal Rexnord during the first quarter worth about $793,975,000. Massachusetts Financial Services Co. MA acquired a new stake in Regal Rexnord during the first quarter worth about $389,416,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Regal Rexnord during the first quarter worth about $333,305,000. Institutional investors own 98.16% of the company’s stock.

About Regal Rexnord (Get Rating)

Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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