Oppenheimer Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price target lowered by Oppenheimer from $210.00 to $190.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on RRX. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays decreased their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Citigroup dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Robert W. Baird reduced their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.50.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $138.93 on Friday. The company has a market cap of $9.20 billion, a P/E ratio of 47.09, a PEG ratio of 1.38 and a beta of 1.03. The business’s 50-day simple moving average is $160.47 and its 200 day simple moving average is $162.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.26. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, sell-side analysts forecast that Regal Rexnord will post 10.32 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc increased its holdings in shares of Regal Rexnord by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after buying an additional 65 shares during the period. 1620 Investment Advisors Inc. boosted its stake in Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the period. iA Global Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after buying an additional 68 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after purchasing an additional 77 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.