Regal Beloit (NYSE:RBC) Price Target Increased to $90.00 by Analysts at Barclays

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Regal Beloit (NYSE:RBC) had its price target hoisted by Barclays from $74.00 to $90.00 in a report published on Tuesday, Stock Target Advisor reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on RBC. Zacks Investment Research upgraded Regal Beloit from a sell rating to a hold rating and set a $81.00 price objective on the stock in a research report on Monday, August 5th. Goldman Sachs Group set a $80.00 price objective on Regal Beloit and gave the stock a buy rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Regal Beloit presently has a consensus rating of Hold and a consensus price target of $87.00.

Shares of Regal Beloit stock traded up $0.37 during trading on Tuesday, reaching $83.59. 215,394 shares of the company’s stock were exchanged, compared to its average volume of 248,280. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.61 and a current ratio of 2.83. Regal Beloit has a 1-year low of $66.04 and a 1-year high of $87.31. The company has a market cap of $3.47 billion, a P/E ratio of 13.93, a PEG ratio of 1.50 and a beta of 1.59. The firm’s 50-day moving average price is $73.88 and its 200 day moving average price is $76.58.

Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.02. Regal Beloit had a return on equity of 10.14% and a net margin of 7.62%. The company had revenue of $772.30 million during the quarter, compared to analysts’ expectations of $808.49 million. During the same quarter in the previous year, the firm earned $1.67 EPS. Regal Beloit’s revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Regal Beloit will post 5.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. Regal Beloit’s dividend payout ratio is currently 20.00%.

In related news, COO Jonathan J. Schlemmer sold 4,480 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $82.74, for a total transaction of $370,675.20. Following the sale, the chief operating officer now owns 78,963 shares in the company, valued at approximately $6,533,398.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Pearl River Capital LLC grew its position in Regal Beloit by 311.6% during the 2nd quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 268 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Regal Beloit in the 2nd quarter valued at about $34,000. North Star Investment Management Corp. bought a new stake in shares of Regal Beloit in the 3rd quarter valued at about $35,000. Point72 Hong Kong Ltd grew its position in shares of Regal Beloit by 156.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock valued at $138,000 after buying an additional 1,029 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Regal Beloit by 10.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,697 shares of the industrial products company’s stock valued at $196,000 after buying an additional 261 shares during the last quarter. Institutional investors and hedge funds own 92.96% 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 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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