Citigroup Lowers Regal Rexnord (NYSE:RRX) Price Target to $110.00

Regal Rexnord (NYSE:RRX) had its target price cut by equities research analysts at Citigroup from $170.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 2.72% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays cut their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Trading Up 13.9 %

NYSE:RRX opened at $107.09 on Tuesday. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a 50 day moving average of $124.65 and a 200 day moving average of $151.76. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Institutional Trading of Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in Regal Rexnord by 117,950.0% during the first quarter. NBC Securities Inc. now owns 2,361 shares of the company’s stock valued at $268,000 after buying an additional 2,359 shares during the period. GAMMA Investing LLC grew its position in Regal Rexnord by 11,369.4% during the first quarter. GAMMA Investing LLC now owns 123,755 shares of the company’s stock valued at $14,090,000 after buying an additional 122,676 shares during the period. First Hawaiian Bank grew its position in Regal Rexnord by 30.0% during the first quarter. First Hawaiian Bank now owns 6,801 shares of the company’s stock valued at $774,000 after buying an additional 1,571 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Regal Rexnord by 11.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,478 shares of the company’s stock valued at $540,000 after purchasing an additional 346 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at about $1,427,000. Institutional investors and hedge funds 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.