Regal Rexnord (NYSE:RRX) Stock Rating Reaffirmed by Loop Capital

Regal Rexnord (NYSE:RRX)‘s stock had its “buy” rating reaffirmed by research analysts at Loop Capital in a note issued to investors on Thursday, Benzinga reports. They presently have a $200.00 price target on the stock. Loop Capital’s target price suggests a potential upside of 17.88% from the stock’s previous close.

Several other equities research analysts have also recently commented on RRX. KeyCorp lowered their price target 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. Barclays dropped their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note 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 started coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Robert W. Baird boosted their price target on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average target price of $191.29.

Regal Rexnord Stock Performance

Shares of RRX opened at $169.67 on Thursday. The company has a market capitalization of $11.29 billion, a PE ratio of -353.48, a PEG ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The company’s 50 day moving average price is $156.45 and its 200 day moving average price is $156.98. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company posted $2.56 EPS. Regal Rexnord’s revenue was down 12.5% on a year-over-year basis. Research analysts expect that Regal Rexnord will post 9.53 EPS for the current fiscal year.

Institutional Trading of Regal Rexnord

Several hedge funds have recently added to or reduced their stakes in RRX. Rise Advisors LLC acquired a new position in shares of Regal Rexnord during the first quarter worth approximately $33,000. Headlands Technologies LLC bought a new stake in Regal Rexnord in the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. acquired a new stake in Regal Rexnord in the 2nd quarter worth $52,000. EntryPoint Capital LLC bought a new position in shares of Regal Rexnord during the 1st quarter worth about $68,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord during the first quarter valued at about $75,000. Institutional investors 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.