Regal Rexnord’s (RRX) “Buy” Rating Reiterated at Loop Capital

Regal Rexnord (NYSE:RRX)‘s stock had its “buy” rating reiterated by analysts at Loop Capital in a note issued to investors on Thursday, Benzinga reports. They currently have a $200.00 price objective on the stock. Loop Capital’s target price would indicate a potential upside of 20.63% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. KeyCorp decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Raymond James assumed coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.29.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $165.79 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The stock has a market capitalization of $11.03 billion, a P/E ratio of -345.40, a P/E/G ratio of 1.56 and a beta of 1.04. The business has a 50-day moving average price of $155.31 and a two-hundred day moving average price of $156.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. Regal Rexnord’s revenue for the quarter was down 12.5% compared to the same quarter last year. Equities analysts predict that Regal Rexnord will post 9.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RRX. Vanguard Group Inc. raised its holdings in shares of Regal Rexnord by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after purchasing an additional 24,847 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Regal Rexnord by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares during the period. Blair William & Co. IL grew its stake in Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after buying an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Regal Rexnord by 18.6% in the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after acquiring an additional 47,379 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Regal Rexnord during the 1st quarter worth $19,508,000. 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.