Regal Beloit (RBC) Lowered to “Market Perform” at Wolfe Research

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

RBC has been the topic of several other reports. 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. BMO Capital Markets reduced their price objective on shares of Regal Beloit to $83.00 and set a market perform rating on the stock in a research report on Wednesday, November 7th. Finally, Goldman Sachs Group initiated coverage on shares of Regal Beloit in a report on Wednesday, October 3rd. They set a buy rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $89.13.

Shares of RBC stock opened at $71.63 on Tuesday. The stock has a market capitalization of $3.10 billion, a PE ratio of 14.71, a PEG ratio of 1.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.61 and a quick ratio of 1.42. Regal Beloit has a one year low of $66.04 and a one year high of $86.75.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Friday, December 28th were paid a $0.28 dividend. The ex-dividend date was Thursday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.56%. Regal Beloit’s payout ratio is 23.00%.

Several institutional investors have recently made changes to their positions in RBC. First Hawaiian Bank bought a new stake in Regal Beloit during the third quarter valued at about $169,000. C M Bidwell & Associates Ltd. raised its position in Regal Beloit by 150.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 1,385 shares in the last quarter. Ifrah Financial Services Inc. purchased a new position in Regal Beloit during the third quarter valued at approximately $207,000. Virtu Financial LLC purchased a new stake in shares of Regal Beloit in the third quarter valued at approximately $213,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Regal Beloit in the third quarter valued at approximately $233,000. Hedge funds and other 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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