JPMorgan Chase & Co. Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $200.00 to $190.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 34.94% from the company’s current price.

RRX has been the subject of a number of other reports. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research note on Friday. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Barclays reduced their price target on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Finally, KeyCorp cut their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.13.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $140.81 on Friday. The company has a 50 day moving average price of $144.82 and a 200-day moving average price of $140.44. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $9.35 billion, a PE ratio of 36.38, a P/E/G ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The firm had revenue of $1.85 billion during the quarter. As a group, equities research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of RRX. Teacher Retirement System of Texas lifted its holdings in shares of Regal Rexnord by 95.1% in the first quarter. Teacher Retirement System of Texas now owns 15,842 shares of the company’s stock worth $1,804,000 after buying an additional 7,724 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Regal Rexnord by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company’s stock worth $1,543,000 after buying an additional 100 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Regal Rexnord by 2.1% in the first quarter. Greenleaf Trust now owns 5,187 shares of the company’s stock worth $591,000 after buying an additional 105 shares in the last quarter. Regents Gate Capital LLP purchased a new position in shares of Regal Rexnord in the first quarter worth $2,211,000. Finally, State of Michigan Retirement System lifted its holdings in shares of Regal Rexnord by 1.3% in the first quarter. State of Michigan Retirement System now owns 15,901 shares of the company’s stock worth $1,810,000 after buying an additional 200 shares in the last quarter. Hedge funds and other 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.