The stock of Regal Beloit Corp (NYSE:RBC) hit a new 52-week high and has $74.62 target or 3.00% above today’s $72.45 share price. The 8 months bullish chart indicates low risk for the $3.30B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $74.62 price target is reached, the company will be worth $99.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 125,035 shares traded hands. Regal Beloit Corp (NYSE:RBC) has risen 6.69% since April 21, 2016 and is uptrending. It has outperformed by 1.36% the S&P500.
Analysts await Regal Beloit Corp (NYSE:RBC) to report earnings on February, 13. They expect $1.04 earnings per share, down 11.11% or $0.13 from last year’s $1.17 per share. RBC’s profit will be $47.37M for 17.42 P/E if the $1.04 EPS becomes a reality. After $1.31 actual earnings per share reported by Regal Beloit Corp for the previous quarter, Wall Street now forecasts -20.61% negative EPS growth.
Regal Beloit Corp (NYSE:RBC) Ratings Coverage
Out of 10 analysts covering Regal Beloit Corp (NYSE:RBC), 1 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 10% are positive. Regal Beloit Corp has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Sector Weight” rating on Tuesday, May 10 by KeyBanc Capital Markets. The stock has “Equal-Weight” rating given by Morgan Stanley on Wednesday, May 11. On Wednesday, August 5 the stock rating was maintained by Oppenheimer with “Hold”. The stock has “Market Perform” rating given by BMO Capital Markets on Tuesday, August 2. The firm earned “Hold” rating on Wednesday, April 20 by Wunderlich. The stock has “Sell” rating given by Goldman Sachs on Thursday, April 28. The stock of Regal Beloit Corp (NYSE:RBC) earned “Overweight” rating by Morgan Stanley on Monday, January 11. The stock of Regal Beloit Corp (NYSE:RBC) earned “Neutral” rating by Buckingham Research on Tuesday, September 29. Seaport Global Securities downgraded Regal Beloit Corp (NYSE:RBC) on Tuesday, September 27 to “Neutral” rating. The stock of Regal Beloit Corp (NYSE:RBC) earned “Buy” rating by Wunderlich on Wednesday, November 4.
According to Zacks Investment Research, “Regal Beloit Corporation is a leading manufacturer of electrical and mechanical motion control and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout North America and in Mexico, Europe and Asia.”
Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.02, from 1.21 in 2016Q1. The ratio is positive, as 33 funds sold all Regal Beloit Corp shares owned while 67 reduced positions. 35 funds bought stakes while 86 increased positions. They now own 42.08 million shares or 1.10% more from 41.62 million shares in 2016Q1.
Systematic Mgmt L P, a New Jersey-based fund reported 247,268 shares. Nuveen Asset Mngmt Limited Liability accumulated 0.07% or 207,765 shares. Hancock Holdg last reported 0.02% of its portfolio in the stock. Comerica Retail Bank accumulated 68,675 shares or 0.04% of the stock. Genesee Valley Trust has 0.13% invested in the company for 3,733 shares. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. Louisiana State Employees Retirement Sys has invested 0.03% of its portfolio in Regal Beloit Corp (NYSE:RBC). Moreover, Royal Comml Bank Of Canada has 0.02% invested in Regal Beloit Corp (NYSE:RBC) for 472,864 shares. Morgan Stanley has invested 0.01% of its portfolio in Regal Beloit Corp (NYSE:RBC). Public Employees Retirement Association Of Colorado has 9,950 shares for 0% of their US portfolio. Kanaly Tru has invested 0% of its portfolio in Regal Beloit Corp (NYSE:RBC). Blackrock Limited Co last reported 24,661 shares in the company. Princeton Alpha Mgmt Limited Partnership has invested 0.06% of its portfolio in Regal Beloit Corp (NYSE:RBC). Arizona State Retirement System has invested 0.01% of its portfolio in Regal Beloit Corp (NYSE:RBC). Oregon Employees Retirement Fund accumulated 14,921 shares or 0.02% of the stock.
Insider Transactions: Since August 11, 2016, the stock had 0 insider buys, and 2 selling transactions for $144,243 net activity. Another trade for 1,615 shares valued at $100,885 was sold by COLVIN TERRY R. Avampato John also sold $43,358 worth of Regal Beloit Corp (NYSE:RBC) on Tuesday, November 15.
More recent Regal Beloit Corp (NYSE:RBC) news were published by: Prnewswire.com which released: “Regal Beloit Corporation Announces Third Quarter 2016 Financial Results” on November 07, 2016. Also Prnewswire.com published the news titled: “Regal Beloit Corporation To Hold Third Quarter 2016 Earnings Conference Call …” on October 12, 2016. Prnewswire.com‘s news article titled: “Regal Beloit Corporation to Acquire Emerson’s Power Transmission Solutions …” with publication date: December 15, 2014 was also an interesting one.
RBC Company Profile
Regal Beloit Corporation, incorporated on March 2, 1994, is a maker of electric motors and controls, electric generators and controls, and power transmission products. The Firm operates through three divisions: 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, large open gearing and specialty mechanical products which control motion and torque. It sells its products directly to original equipment manufacturers (OEMs), distributors and end users. It operates distribution facilities in Indianapolis, Indiana; Florence, Kentucky, and LaVergne, Tennessee, which serve as hubs for its North American distribution and logistics operations.
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