Regal Beloit Corp (RBC) was Reiterated by Wunderlich to “Hold” while Lowering the Price Target of the company shares to $ 62 from a previous price target of $67.50 . Wunderlich advised their investors in a research report released on May 11, 2016.
Many Wall Street Analysts have commented on Regal Beloit Corp. Regal Beloit Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on May 11, 2016. Regal Beloit Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on May 10, 2016. Regal Beloit Corp was Downgraded by Goldman to ” Sell” on Apr 28, 2016.
On the company’s financial health, Regal Beloit Corp reported $0.95 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $1.07. The company had revenue of $818.20 million for the quarter, compared to analysts expectations of $846.43 million. The company’s revenue was down -10.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.
Regal Beloit Corp closed down -5.68 points or -8.97% at $57.61 with 15,29,287 shares getting traded on Tuesday. Post opening the session at $54.04, the shares hit an intraday low of $54.01 and an intraday high of $57.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.