Oppenheimer Lowers Regal Beloit (RBC) to Market Perform

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Regal Beloit (NYSE:RBC) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday. Oppenheimer also issued estimates for Regal Beloit’s Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.76 EPS, Q3 2019 earnings at $1.70 EPS, Q4 2019 earnings at $1.39 EPS, FY2019 earnings at $6.30 EPS and FY2020 earnings at $6.85 EPS.

RBC has been the topic of several other research reports. BMO Capital Markets reduced their target price on shares of Regal Beloit to $83.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 7th. Goldman Sachs Group began coverage on shares of Regal Beloit in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research downgraded shares of Regal Beloit from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Royal Bank of Canada downgraded shares of Regal Beloit from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Wolfe Research downgraded shares of Regal Beloit from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Regal Beloit presently has a consensus rating of “Hold” and an average price target of $89.13.

RBC traded up $0.32 during trading on Tuesday, reaching $72.09. 13,572 shares of the company’s stock were exchanged, compared to its average volume of 288,553. Regal Beloit has a fifty-two week low of $66.04 and a fifty-two week high of $86.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.61 and a quick ratio of 1.42. The company has a market capitalization of $3.07 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.08 and a beta of 1.47.

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

Several large investors have recently modified their holdings of RBC. CenturyLink Investment Management Co lifted its position in Regal Beloit by 3.4% during the 4th quarter. CenturyLink Investment Management Co now owns 15,500 shares of the industrial products company’s stock worth $1,086,000 after buying an additional 514 shares in the last quarter. Stone Ridge Asset Management LLC lifted its position in Regal Beloit by 3.1% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 23,476 shares of the industrial products company’s stock worth $1,936,000 after buying an additional 700 shares in the last quarter. Aperio Group LLC lifted its position in Regal Beloit by 3.8% during the 3rd quarter. Aperio Group LLC now owns 19,846 shares of the industrial products company’s stock worth $1,636,000 after buying an additional 732 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its position in Regal Beloit by 150.5% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock worth $190,000 after buying an additional 1,385 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its position in Regal Beloit by 4.1% during the 3rd quarter. Vident Investment Advisory LLC now owns 37,608 shares of the industrial products company’s stock worth $3,101,000 after buying an additional 1,494 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

About Regal Beloit

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.

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Analyst Recommendations for Regal Beloit (NYSE:RBC)

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