Regal Beloit Corp (RBC) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on Regal Beloit Corp. Wunderlich Downgraded Regal Beloit Corp on Apr 20, 2016 to ” Hold”, Price Target of the shares are set at $67.50.Shares were Reiterated by Wunderlich on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 67.50 from a previous price target of $81 .
On the company’s financial health, Regal Beloit Corp reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 9, 2015. Analyst had a consensus of $1.42. The company had revenue of $882.30 million for the quarter, compared to analysts expectations of $914.15 million. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.
Regal Beloit Corp (RBC) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $67.49 and reached the intraday high at $67.89. The bulls started the profit booking and pushed the shares to intraday low of $66.86. The trading session was marked by a volume range of 4,19,862 shares exchanging hands. The 52-week high of the shares is $81.36 and the 52-week low is $47.765. The market cap of the company stands at $3,006 M and there are 4,46,68,940 shares in public circulation.
In a different news, on Mar 2, 2016, John Avampato (VP & Chief Information Officer) sold 9,274 shares at $55.00 per share price. According to the SEC, on Dec 2, 2015, Curtis W Stoelting (director) sold 7,000 shares at $64.36 per share price. On May 26, 2015, Henry W Knueppel (director) sold 25,000 shares at $80.46 per share price, according to the Form-4 filing with the securities and exchange commission.
Regal Beloit Corporation is a global manufacturer electric motors and controls electric generators and controls and power transmission products. The Company operates through three segments: Commercial and Industrial Systems segment which designs manufactures and sells Fractional integral and large horsepower motors and controls electronic variable speed controls and blowers Solid state and electro-mechanical starters contactors relays variable frequency drives and motors artificial lift system pumping equipment Precision stator and rotor kits Hazardous duty motors and Electric generators; Climate Solutions segment which designs manufactures and sells Fractional motors electronic variable speed controls and blowers and Power Transmission Solutions segment which designs manufactures and markets enclosed gear drives gearmotors transmissions and custom open gearing used for motion control within complex equipment and systems.