Zacks Investment Research Upgrades Regal Beloit (RBC) to Buy

Regal Beloit (NYSE:RBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $86.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.55% from the company’s current price.

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 brokerages also recently commented on RBC. Royal Bank of Canada reiterated a “buy” rating on shares of Regal Beloit in a research report on Monday, November 6th. Robert W. Baird reiterated a “buy” rating and set a $88.00 price objective on shares of Regal Beloit in a research report on Wednesday, October 4th. Morgan Stanley lifted their price objective on Regal Beloit from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, October 2nd. ValuEngine upgraded Regal Beloit from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, BMO Capital Markets reduced their price objective on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Regal Beloit presently has a consensus rating of “Hold” and a consensus target price of $86.56.

Shares of Regal Beloit (NYSE:RBC) traded up $1.15 during trading on Tuesday, reaching $78.50. The company had a trading volume of 249,400 shares, compared to its average volume of 237,250. Regal Beloit has a 52-week low of $68.30 and a 52-week high of $87.50. The stock has a market capitalization of $3,426.91, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22.

Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.01). Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The company had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $837.19 million. During the same quarter in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. equities analysts predict that Regal Beloit will post 4.87 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Regal Beloit by 1.4% in the second quarter. Vanguard Group Inc. now owns 4,046,576 shares of the industrial products company’s stock valued at $329,998,000 after purchasing an additional 54,435 shares during the period. Profit Investment Management LLC raised its position in Regal Beloit by 64.0% in the third quarter. Profit Investment Management LLC now owns 21,104 shares of the industrial products company’s stock valued at $1,667,000 after purchasing an additional 8,234 shares during the period. Nationwide Fund Advisors raised its position in Regal Beloit by 14.5% in the third quarter. Nationwide Fund Advisors now owns 116,818 shares of the industrial products company’s stock valued at $9,229,000 after purchasing an additional 14,810 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Regal Beloit by 1.1% in the 2nd quarter. New York State Common Retirement Fund now owns 114,606 shares of the industrial products company’s stock valued at $9,346,000 after buying an additional 1,299 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Regal Beloit by 1.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 256,679 shares of the industrial products company’s stock valued at $20,279,000 after buying an additional 2,447 shares during the period. Institutional investors 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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