Regal Beloit (RBC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Regal Beloit (NYSE:RBC) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The firm currently has $86.00 price target on the industrial products company’s stock.
According to Zacks, “Regal Beloit’s long-term growth strategy involves organic growth through innovative products, broadening customer base, exploitation of new opportunities and tactical investments in emerging markets. Improved oil & gas and renewable energy end-market demand have been lending strong momentum to the company’s top line. Regal Beloit also continues to focus on prudent investment decisions for a disciplined capital allocation, strong and flexible balance sheet position and cash flow enhancement to support dividend growth. Going forward, Regal Beloit remains confident of generating robust operating cash flow to fund its organic and inorganic growth as well as to return significant capital to shareholders. However, margin pressures, high concentration risks and adverse foreign currency translation remain headwinds. Regal Beloit shares have underperformed the industry in the last three months.”
A number of other analysts have also weighed in on the stock. Royal Bank of Canada reiterated a buy rating and set a $90.00 target price on shares of Regal Beloit in a report on Tuesday, November 28th. ValuEngine lowered shares of Regal Beloit from a buy rating to a hold rating in a report on Wednesday, November 15th. Robert W. Baird restated a buy rating and issued a $88.00 price objective on shares of Regal Beloit in a report on Wednesday, October 4th. BMO Capital Markets lowered their price objective on shares of Regal Beloit from $88.00 to $85.00 and set a market perform rating for the company in a report on Tuesday, November 7th. Finally, Morgan Stanley raised their price objective on shares of Regal Beloit from $82.00 to $87.00 and gave the stock an equal weight rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Regal Beloit presently has a consensus rating of Hold and a consensus target price of $86.56.
Shares of Regal Beloit (RBC) opened at $79.20 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22. The firm has a market cap of $3,477.86, a PE ratio of 17.22, a PEG ratio of 1.33 and a beta of 1.48. Regal Beloit has a 1-year low of $68.30 and a 1-year high of $87.50.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, November 6th. The industrial products company reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.01). The firm had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $837.19 million. Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. research analysts predict that Regal Beloit will post 4.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.26 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.04 annualized dividend and a yield of 1.31%. Regal Beloit’s dividend payout ratio (DPR) is presently 22.61%.
A number of institutional investors and hedge funds have recently modified their holdings of RBC. Principal Financial Group Inc. lifted its holdings in Regal Beloit by 133.4% in the third quarter. Principal Financial Group Inc. now owns 444,149 shares of the industrial products company’s stock worth $35,088,000 after buying an additional 253,888 shares during the period. Kennedy Capital Management Inc. lifted its holdings in Regal Beloit by 94.7% in the second quarter. Kennedy Capital Management Inc. now owns 364,485 shares of the industrial products company’s stock worth $29,724,000 after buying an additional 177,243 shares during the period. Northern Trust Corp increased its stake in shares of Regal Beloit by 16.6% during the second quarter. Northern Trust Corp now owns 612,609 shares of the industrial products company’s stock valued at $49,958,000 after purchasing an additional 87,032 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Regal Beloit by 41.4% during the second quarter. Ameriprise Financial Inc. now owns 254,232 shares of the industrial products company’s stock valued at $20,715,000 after purchasing an additional 74,425 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Regal Beloit by 11.4% during the third quarter. Prudential Financial Inc. now owns 630,849 shares of the industrial products company’s stock valued at $49,837,000 after purchasing an additional 64,750 shares in the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.
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About Regal Beloit
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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