Analysts Offer Insights on Conglomerates Companies: Regal Beloit (NYSE: RBC) and Forterra Inc (NASDAQ: FRTA)

By Austin Angelo

Companies in the Conglomerates sector have received a lot of coverage today as analysts weigh in on Regal Beloit (NYSE: RBC) and Forterra Inc (NASDAQ: FRTA).

Regal Beloit (NYSE: RBC)

Oppenheimer analyst Christopher Glynn reiterated a Hold rating on Regal Beloit (NYSE: RBC) yesterday. The company’s shares opened today at $68.90, close to its 52-week high of $69.83.

Glynn noted:

“Operating results were about in line, with some incremental revenue softness offset by solid OM execution at C&I and Climate Solutions reflecting simplification benefits and favorable mix (NA HVAC). General industrial distribution headwinds indicate potential leverage opportunity moving forward, as RBC noted rapid sensitivity to any improved macro demand, consistent with short cycle orientation of the business model.”

According to TipRanks.com, Glynn is a top 25 analyst with an average return of 15.3% and a 74.1% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Rockwell Automation Inc, and Mueller Water Products.

Currently, the analyst consensus on Regal Beloit is Moderate Buy and the average price target is $65.67, representing a -4.7% downside.

In a report issued on November 7, BMO Capital also reiterated a Hold rating on the stock.
Forterra Inc (NASDAQ: FRTA)

Forterra Inc (NASDAQ: FRTA) received a Buy rating and a $23 price target from Oppenheimer analyst Ian Zaffino today. The company’s shares opened today at $18.98, close to its 52-week high of $19.08.

Zaffino said:

“Forterra Inc. is a major manufacturer of pipe/precast products, and an established market leader in both drainage and water pipes in the US and eastern Canada. The company offers a full suite of products that service “the First Mile to the Last Mile” of the water infrastructure grid, including large diameter pipe, transportation drainage, and smaller diameter pipe for potable water.”

According to TipRanks.com, Zaffino is a 5-star analyst with an average return of 6.3% and a 61.6% success rate. Zaffino covers the Services sector, focusing on stocks such as Macquarie Infrastructure Company, Bristow Group Inc, and Scholastic Corp.

Forterra Inc has an analyst consensus of Moderate Buy, with a price target consensus of $23.