Wolfe Research cut shares of Regal Beloit (NYSE:RBC) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, The Fly reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Regal Beloit from a hold rating to a buy rating and set a $93.00 target price on the stock in a research report on Wednesday, October 3rd. Goldman Sachs Group initiated coverage on Regal Beloit in a report on Wednesday, October 3rd. They issued a buy rating and a $95.00 price target on the stock. Royal Bank of Canada restated a buy rating and issued a $90.00 price target (down previously from $95.00) on shares of Regal Beloit in a report on Monday, November 5th. Finally, BMO Capital Markets lowered their price target on Regal Beloit to $83.00 and set a market perform rating on the stock in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Regal Beloit currently has an average rating of Hold and a consensus target price of $89.13.

RBC stock traded down $0.62 during trading on Tuesday, hitting $71.71. The company had a trading volume of 3,846 shares, compared to its average volume of 239,693. The stock has a market capitalization of $3.10 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.47. Regal Beloit has a 1-year low of $66.04 and a 1-year high of $86.75. The company has a quick ratio of 1.42, a current ratio of 2.61 and a debt-to-equity ratio of 0.54.

Regal Beloit (NYSE:RBC) last released its earnings results on Monday, November 5th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.06. Regal Beloit had a return on equity of 10.73% and a net margin of 6.34%. The company had revenue of $925.40 million for the quarter, compared to analysts’ expectations of $924.18 million. During the same quarter in the previous year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Regal Beloit will post 5.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 27th. Regal Beloit’s dividend payout ratio is currently 23.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank purchased a new stake in Regal Beloit in the 3rd quarter valued at approximately $169,000. C M Bidwell & Associates Ltd. lifted its stake in Regal Beloit by 150.5% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock valued at $190,000 after buying an additional 1,385 shares in the last quarter. Ifrah Financial Services Inc. purchased a new position in shares of Regal Beloit during the 3rd quarter worth $207,000. Virtu Financial LLC purchased a new position in shares of Regal Beloit during the 3rd quarter worth $213,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Regal Beloit during the 3rd quarter worth $233,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Regal Beloit Company Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

Featured Article: How Do I Invest in Dividend Stocks

The Fly

Analyst Recommendations for Regal Beloit (NYSE:RBC)

Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.