Regal Beloit Corporation (RBC) Given “Buy” Rating at Royal Bank Of Canada
Regal Beloit Corporation (NYSE:RBC)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a research report issued on Monday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price target on shares of Regal Beloit Corporation in a research report on Friday, July 14th. Morgan Stanley raised their price target on Regal Beloit Corporation from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, October 2nd. BidaskClub lowered Regal Beloit Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, Wolfe Research began coverage on Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.33.
Shares of Regal Beloit Corporation (NYSE:RBC) opened at $80.70 on Monday. The stock has a market capitalization of $3,598.97, a P/E ratio of 17.13, a PEG ratio of 1.51 and a beta of 1.50. The company has a quick ratio of 1.29, a current ratio of 2.24 and a debt-to-equity ratio of 0.53.
Regal Beloit Corporation (NYSE:RBC) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. Regal Beloit Corporation’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. equities research analysts predict that Regal Beloit Corporation will post 4.87 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in RBC. Teachers Advisors LLC raised its position in Regal Beloit Corporation by 13.8% in the 1st quarter. Teachers Advisors LLC now owns 53,565 shares of the industrial products company’s stock valued at $4,052,000 after buying an additional 6,493 shares during the last quarter. State Street Corp raised its position in Regal Beloit Corporation by 3.7% in the 1st quarter. State Street Corp now owns 1,138,449 shares of the industrial products company’s stock valued at $86,125,000 after buying an additional 40,232 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Regal Beloit Corporation in the 1st quarter valued at approximately $1,891,000. Fox Run Management L.L.C. acquired a new stake in Regal Beloit Corporation in the 2nd quarter valued at approximately $236,000. Finally, Fisher Asset Management LLC raised its position in Regal Beloit Corporation by 8.5% in the 2nd quarter. Fisher Asset Management LLC now owns 628,384 shares of the industrial products company’s stock valued at $51,245,000 after buying an additional 49,461 shares during the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.
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.
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