Analysts Set Regal Beloit Corp. (NYSE:RBC) PT at $63.17
Regal Beloit Corp. (NYSE:RBC) has earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $63.17.
Several research firms recently weighed in on RBC. Credit Suisse Group AG restated a “buy” rating on shares of Regal Beloit Corp. in a research note on Saturday, July 9th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd.
In other news, VP Terry R. Colvin sold 1,615 shares of the stock in a transaction on Thursday, August 11th. The stock was 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 approximately $1,320,990.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in RBC. First Mercantile Trust Co. bought a new position in shares of Regal Beloit Corp. during the third quarter worth approximately $209,000. Foundry Partners LLC boosted its position in shares of Regal Beloit Corp. by 5.2% in the third quarter. Foundry Partners LLC now owns 147,977 shares of the company’s stock worth $8,803,000 after buying an additional 7,264 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Regal Beloit Corp. during the third quarter worth approximately $235,000. Nomura Holdings Inc. bought a new position in shares of Regal Beloit Corp. during the second quarter worth approximately $243,000. Finally, Mason Street Advisors LLC bought a new position in shares of Regal Beloit Corp. during the second quarter worth approximately $1,123,000. 95.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Thursday. Regal Beloit Corp. has a 52-week low of $47.77 and a 52-week high of $68.45. The firm has a 50-day moving average price of $60.20 and a 200-day moving average price of $60.26. The stock has a market capitalization of $2.73 billion, a P/E ratio of 19.28 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings results on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.24 by $0.10. The company earned $838.60 million during the quarter, compared to analysts’ expectations of $857.88 million. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. On average, analysts predict that Regal Beloit Corp. will post $4.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. Regal Beloit Corp.’s payout ratio is 30.28%.
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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