Seaport Global Downgrades Regal Beloit Corp to Neutral

Brokerage firm Seaport Global Downgrades its rating on Regal Beloit Corp(NYSE:RBC). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Seaport Global was issued on Sep 27, 2016.

In a different note, On Aug 2, 2016, BMO Capital said it Downgrades its rating on Regal Beloit Corp. The shares have been rated ‘Market Perform’ by the firm.

Regal Beloit Corp (RBC) made into the market gainers list on Fridays trading session with the shares advancing 0.93% or 0.55 points. Due to strong positive momentum, the stock ended at $59.49, which is also near the day’s high of $59.8001. The stock began the session at $59.23 and the volume stood at 2,43,531 shares. The 52-week high of the shares is $68.45 and the 52 week low is $47.765. The company has a current market capitalization of $2,662 M and it has 4,47,52,755 shares in outstanding.

Regal Beloit Corp(RBC) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $838.60M. Analysts had an estimated revenue of $857.88M. Earnings per share were $1.12. Analysts had estimated an EPS of $1.25.

Several Insider Transactions has been reported to the SEC. On Aug 12, 2016, Terry R Colvin (VP/Human Resources) sold 1,615 shares at $62.47 per share price.Also, On Mar 2, 2016, John Avampato (VP & Chief Information Officer) sold 9,274 shares at $55.00 per share price.On Dec 2, 2015, Curtis W Stoelting (director) sold 7,000 shares at $64.36 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.

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