Regal Rexnord (NYSE:RRX) Rating Reiterated by Loop Capital

Regal Rexnord (NYSE:RRX)‘s stock had its “buy” rating reissued by investment analysts at Loop Capital in a report issued on Thursday, Benzinga reports. They currently have a $200.00 price objective on the stock. Loop Capital’s price objective suggests a potential upside of 17.88% from the company’s current price.

Several other equities analysts also recently commented on the company. Barclays cut their target price on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.29.

Regal Rexnord Trading Down 2.6 %

Shares of Regal Rexnord stock opened at $169.67 on Thursday. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The firm has a market capitalization of $11.29 billion, a PE ratio of -353.48, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The company’s fifty day moving average price is $156.45 and its two-hundred day moving average price is $156.98.

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

Institutional Trading of Regal Rexnord

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after buying an additional 24,847 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Regal Rexnord by 8.0% in the first 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 last quarter. Blair William & Co. IL increased its position in Regal Rexnord by 161.4% in the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after purchasing an additional 4,798 shares during the period. Westfield Capital Management Co. LP raised its holdings in Regal Rexnord by 18.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after purchasing an additional 47,379 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Regal Rexnord during the 1st quarter valued at about $19,508,000. 99.72% of the stock is owned by institutional investors.

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.