Regal Beloit Corp. (RBC) Downgraded to Neutral at Seaport Global Securities
Seaport Global Securities lowered shares of Regal Beloit Corp. (NYSE:RBC) from an accumulate rating to a neutral rating in a research note published on Tuesday morning. Seaport Global Securities currently has $64.00 price objective on the stock, down from their previous price objective of $68.00.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Regal Beloit Corp. from a sell rating to a hold rating in a research report on Monday, September 19th. TheStreet raised shares of Regal Beloit Corp. from a hold rating to a buy rating in a research report on Thursday, August 18th. Credit Suisse Group AG reissued a buy rating and set a $63.00 price objective on shares of Regal Beloit Corp. in a research report on Tuesday, August 9th. BMO Capital Markets downgraded shares of Regal Beloit Corp. from an outperform rating to a market perform rating and lowered their price objective for the stock from $76.00 to $66.00 in a research report on Tuesday, August 2nd. Finally, Jefferies Group reissued a hold rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 57.20 on Tuesday. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $68.45. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 18.05 and a beta of 1.69. The company’s 50 day moving average is $60.85 and its 200-day moving average is $60.25.
Regal Beloit Corp. (NYSE:RBC) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The company had revenue of $838.60 million for the quarter, compared to the consensus estimate of $857.88 million. During the same period in the prior year, the company earned $1.53 EPS. The firm’s revenue was down 11.0% on a year-over-year basis. On average, analysts predict that Regal Beloit Corp. will post $4.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio is 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total transaction of $100,889.05. Following the transaction, the vice president now directly owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock worth $105,000 after buying an additional 1,775 shares in the last quarter. LS Investment Advisors LLC raised its position in Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock worth $150,000 after buying an additional 1,149 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Regal Beloit Corp. during the first quarter worth approximately $196,000. Envestnet Asset Management Inc. raised its position in Regal Beloit Corp. by 32.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,111 shares of the company’s stock worth $196,000 after buying an additional 755 shares in the last quarter. Finally, American Financial Group Inc. acquired a new position in Regal Beloit Corp. during the first quarter worth approximately $200,000. 95.95% of the stock is currently owned by institutional investors and hedge funds.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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