BMO Capital Reiterates a Hold Rating on Regal Beloit

By Austin Angelo

In a report released yesterday, Scott Graham from BMO Capital reiterated a Hold rating on Regal Beloit (NYSE: RBC). The company’s shares closed yesterday at $62.05.

According to TipRanks.com, Graham is a 3-star analyst with an average return of 1.4% and a 51.2% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc., Gorman-Rupp Company, and Barnes Group Inc.

Regal Beloit has an analyst consensus of Hold, with a price target consensus of $64.50.

Based on Regal Beloit’s latest earnings report from June 30, the company posted quarterly revenue of $838.6M and quarterly net profit of $56.6M. In comparison, last year the company earned revenue of $882.3M and had a net profit of $63.4M.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2016, John Avampato, the VP & Chief Information Officer of RBC sold 9,274 shares for a total of $510,070.

Regal Beloit Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial and Industrial Systems produces medium and large motors, commercial and industrial equipment, generator, and custom drives and systems. These products serve markets including commercial heating, ventilation, and air conditioning (HVAC), pool and spa, standby and critical power and oil and gas systems. The Climate Solutions segment offers small motors, controls, and air moving solutions serving markets including residential and light commercial HVAC, water heaters and commercial refrigeration. The Power Transmission Solutions segment manufactures, sells, and services belt and chain drives, helical and worm gearing, mounted and unmounted bearings, couplings, modular plastic belts, conveying chains and components, hydraulic pump drives, large open gearing, and specialty mechanical products serving markets including beverage, bulk handling, metals, special machinery, energy, aerospace and general industrial. The company was founded in 1955 and is headquartered in Beloit, WI.