Regal Rexnord (NYSE:RRX) Given New $170.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has reduced the price target for Regal Rexnord from $192.00 to $170.00, maintaining a "buy" rating, indicating a potential upside of 21.07% from the current stock price.
• Despite the price target cut, other analysts like JPMorgan Chase & Co. and Barclays have set positive ratings, with JPMorgan initiating coverage at a $200.00 target price and Barclays adjusting their target to $161.00.
• Regal Rexnord's recent earnings report showed a profit of $2.48 per share, exceeding analysts' expectations, although revenue for the quarter declined by 3.3% year-over-year.

Regal Rexnord (NYSE:RRX - Get Free Report) had its target price decreased by analysts at The Goldman Sachs Group from $192.00 to $170.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 18.49% from the stock's previous close.

RRX has been the subject of several other reports. JPMorgan Chase & Co. started coverage on Regal Rexnord in a research report on Monday, September 15th. They set an "overweight" rating and a $200.00 price objective for the company. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Citigroup restated a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, Barclays lowered their target price 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. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $181.63.

Regal Rexnord Stock Performance

NYSE:RRX traded down $0.95 during mid-day trading on Tuesday, reaching $143.47. The stock had a trading volume of 878,608 shares, compared to its average volume of 672,386. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 1.45 and a beta of 1.18. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The business has a 50 day simple moving average of $147.52 and a 200 day simple moving average of $133.58.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company posted $2.29 earnings per share. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, analysts expect that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company's stock worth $28,000 after buying an additional 90 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the 4th quarter worth about $31,000. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Finally, Tobam increased its position in shares of Regal Rexnord by 54.8% in the 2nd quarter. Tobam now owns 308 shares of the company's stock worth $45,000 after purchasing an additional 109 shares during the last quarter. 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.