Regal Beloit Corporation (NYSE:RBC)‘s stock had its “hold” rating reissued by analysts at Stifel Nicolaus in a report released on Wednesday, July 19th. They currently have a $85.00 price target on the industrial products company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 8.14% from the company’s current price.
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Credit Suisse Group restated a “buy” rating and set a $88.00 price target on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. ValuEngine upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $73.00 price objective on shares of Regal Beloit Corporation in a research note on Tuesday, April 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.00.
Shares of Regal Beloit Corporation (NYSE RBC) traded up 0.06% on Wednesday, hitting $78.60. 259,871 shares of the stock were exchanged. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 17.35 and a beta of 1.52. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50. The company has a 50 day moving average of $82.84 and a 200 day moving average of $78.54.
Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the 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 firm earned $1.14 EPS. Regal Beloit Corporation’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Regal Beloit Corporation will post $4.86 earnings per share for the current year.
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In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $82.00, for a total value of $820,000.00. Following the transaction, the director now owns 3,726 shares of the company’s stock, valued at approximately $305,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares in the company, valued at approximately $316,710. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,663 shares of company stock worth $2,813,040. Corporate insiders own 2.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tyers Asset Management LLC increased its position in Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock worth $157,000 after buying an additional 672 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Regal Beloit Corporation by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,380 shares of the industrial products company’s stock worth $165,000 after buying an additional 11 shares during the period. World Asset Management Inc bought a new stake in shares of Regal Beloit Corporation during the first quarter worth $207,000. Synovus Financial Corp boosted its stake in shares of Regal Beloit Corporation by 4.4% in the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after buying an additional 110 shares during the period. Finally, Elkfork Partners LLC boosted its stake in shares of Regal Beloit Corporation by 47.7% in the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock worth $216,000 after buying an additional 924 shares during the period. 93.32% of the stock is currently owned by institutional investors and hedge funds.
Regal Beloit Corporation Company Profile
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.
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