Wolfe Research Initiates Coverage on Regal Beloit Corporation (NYSE:RBC)

Equities research analysts at Wolfe Research assumed coverage on shares of Regal Beloit Corporation (NYSE:RBC) in a research note issued on Tuesday, July 11th. The brokerage set a “market perform” rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on the company. Credit Suisse Group reissued a “buy” rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. BidaskClub downgraded Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, June 6th. ValuEngine raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, CIBC raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.00.

Shares of Regal Beloit Corporation (NYSE:RBC) traded down 0.25% during midday trading on Tuesday, reaching $78.85. 378,694 shares of the company traded hands. Regal Beloit Corporation has a 1-year low of $56.45 and a 1-year high of $87.50. The firm has a market capitalization of $3.52 billion, a PE ratio of 17.41 and a beta of 1.52. The stock has a 50 day moving average price of $82.95 and a 200 day moving average price of $78.34.

Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $869.20 million during the quarter, compared to the consensus estimate of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. Analysts expect that Regal Beloit Corporation will post $4.87 earnings per share for the current fiscal year.

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In other news, Director Henry W. Knueppel sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $82.00, for a total transaction of $820,000.00. Following the completion of the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at $305,532. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now directly owns 3,726 shares of the company’s stock, valued at $316,710. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,663 shares of company stock valued at $2,813,040. Corporate insiders own 2.20% of the company’s stock.

A number of large investors have recently bought and sold shares of RBC. Renaissance Technologies LLC boosted its stake in Regal Beloit Corporation by 140.3% in the fourth quarter. Renaissance Technologies LLC now owns 62,000 shares of the industrial products company’s stock valued at $4,294,000 after buying an additional 36,200 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Regal Beloit Corporation by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock valued at $36,010,000 after buying an additional 12,329 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Regal Beloit Corporation by 0.6% in the first quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock valued at $29,278,000 after buying an additional 2,216 shares during the last quarter. Hengehold Capital Management LLC acquired a new stake in Regal Beloit Corporation during the first quarter valued at $359,000. Finally, Gotham Asset Management LLC boosted its stake in Regal Beloit Corporation by 56.3% in the first quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock valued at $17,541,000 after buying an additional 83,548 shares during the last quarter. Hedge funds and other institutional investors own 93.70% of the company’s stock.

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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