Regal Beloit Corporation (RBC) Downgraded by BidaskClub to Hold

Regal Beloit Corporation (NYSE:RBC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, July 25th.

Several other equities research analysts have also issued reports on the company. CIBC raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, May 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $88.00 price target on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. Wolfe Research initiated coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. ValuEngine raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $83.00.

Shares of Regal Beloit Corporation (RBC) traded down 0.25% during mid-day trading on Tuesday, hitting $78.85. The company had a trading volume of 378,706 shares. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50. The company’s 50-day moving average is $82.93 and its 200 day moving average is $78.39. The company has a market capitalization of $3.52 billion, a PE ratio of 17.41 and a beta of 1.52.

Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Regal Beloit Corporation will post $4.87 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Regal Beloit Corporation (RBC) Downgraded by BidaskClub to Hold” was first reported by BNB Daily and is the sole property of of BNB Daily. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/13/regal-beloit-corporation-rbc-downgraded-to-hold-at-bidaskclub-updated-updated.html.

In related news, Director Henry W. Knueppel sold 3,663 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $80.00, for a total transaction of $293,040.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now owns 3,726 shares in the company, valued at approximately $316,710. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,663 shares of company stock worth $2,813,040. 2.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Regal Beloit Corporation by 12,739.2% in the first quarter. BlackRock Inc. now owns 4,042,162 shares of the industrial products company’s stock worth $305,789,000 after buying an additional 4,010,679 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Regal Beloit Corporation by 49.5% in the first quarter. Bank of New York Mellon Corp now owns 791,521 shares of the industrial products company’s stock worth $59,878,000 after buying an additional 262,168 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Regal Beloit Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,992,141 shares of the industrial products company’s stock worth $302,006,000 after buying an additional 253,058 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regal Beloit Corporation by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,036 shares of the industrial products company’s stock worth $190,565,000 after buying an additional 233,454 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Regal Beloit Corporation by 19.1% in the first quarter. Alliancebernstein L.P. now owns 1,438,609 shares of the industrial products company’s stock worth $108,831,000 after buying an additional 231,211 shares in the last quarter. Institutional investors own 93.70% of the company’s stock.

About Regal Beloit Corporation

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.

Analyst Recommendations for Regal Beloit Corporation (NYSE:RBC)

Receive News & Ratings for Regal Beloit Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply