Regal Beloit Corporation (NYSE:RBC) Downgraded to “Hold” at BidaskClub

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

A number of other research analysts have also weighed in on RBC. Zacks Investment Research raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $73.00 price target on shares of Regal Beloit Corporation in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. raised shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Friday, May 5th. CIBC upgraded shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a report on Friday, May 5th. Finally, ValuEngine upgraded shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $83.00.

Shares of Regal Beloit Corporation (RBC) opened at 83.95 on Tuesday. The company has a market capitalization of $3.76 billion, a PE ratio of 18.21 and a beta of 1.52. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50. The stock has a 50 day moving average price of $82.72 and a 200 day moving average price of $77.94.

Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings results on Monday, May 8th. The industrial products company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.12. The firm had revenue of $813.50 million for the quarter, compared to analyst estimates of $807.40 million. Regal Beloit Corporation had a net margin of 6.46% and a return on equity of 9.80%. Regal Beloit Corporation’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. On average, equities research analysts predict that Regal Beloit Corporation will post $4.86 earnings per share for the current year.

In related news, Director Henry W. Knueppel sold 10,800 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $80.03, for a total transaction of $864,324.00. Following the completion of the transaction, the director now owns 4,326 shares of the company’s stock, valued at approximately $346,209.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $316,710. The disclosure for this sale can be found here. Insiders have sold a total of 44,463 shares of company stock valued at $3,677,364 in the last 90 days. Insiders own 2.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of RBC. Renaissance Technologies LLC boosted its position in shares of Regal Beloit Corporation by 140.3% in the fourth quarter. Renaissance Technologies LLC now owns 62,000 shares of the industrial products company’s stock valued at $4,294,000 after buying an additional 36,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Regal Beloit Corporation by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock valued at $36,010,000 after buying an additional 12,329 shares in the last quarter. Hengehold Capital Management LLC acquired a new position in shares of Regal Beloit Corporation during the first quarter valued at approximately $359,000. Macquarie Group Ltd. boosted its position in shares of Regal Beloit Corporation by 0.6% in the first quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock valued at $29,278,000 after buying an additional 2,216 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of Regal Beloit Corporation by 56.3% in the first quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock valued at $17,541,000 after buying an additional 83,548 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.