KeyCorp Reiterates “Buy” Rating for REGAL-BELOIT CORPORATION (RBC)
REGAL-BELOIT CORPORATION (NYSE:RBC)‘s stock had its “buy” rating restated by analysts at KeyCorp in a research report issued to clients and investors on Friday. They currently have a $88.00 price objective on the stock, up from their previous price objective of $82.00. KeyCorp’s price target would suggest a potential upside of 11.10% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of REGAL-BELOIT CORPORATION in a research note on Tuesday. They now have a $82.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of REGAL-BELOIT CORPORATION from $70.00 to $77.00 in a research note on Tuesday, May 6th. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of REGAL-BELOIT CORPORATION from $78.00 to $81.00 in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $79.58.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) traded down 1.05% during mid-day trading on Friday, hitting $78.38. 255,822 shares of the company’s stock traded hands. REGAL-BELOIT CORPORATION has a 52-week low of $61.86 and a 52-week high of $80.41. The stock has a 50-day moving average of $76.83 and a 200-day moving average of $74.26. The company has a market cap of $3.537 billion and a price-to-earnings ratio of 31.55.
REGAL-BELOIT CORPORATION (NYSE:RBC) last released its earnings data on Monday, May 5th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. The company had revenue of $801.20 million for the quarter, compared to the consensus estimate of $794.06 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that REGAL-BELOIT CORPORATION will post $4.60 EPS for the current fiscal year.
Regal Beloit Corporation is a global manufacturer of electric motors and controls, electric generators and controls, and mechanical motion control products.
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