KeyBanc Downgrades Regal Beloit (RBC) to Hold; Persisting Mix Headwind, Europe/China Cross Currents Limit Near-Term Visibility
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Price: $505.63 +0.20%
Rating Summary:
18 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc downgraded Regal Beloit (NYSE: RBC) from Buy to Hold.
KeyBanc analyst says, "Following a cautious tone from our distributor contacts, we believe the near-term trajectory in residential HVAC markets warrants caution. With consumer/housing weakness still a drag and channel inventories somewhat elevated (per our channel work), we see muted growth for RBC over the next few quarters. Equally as important, we believe homeowner bias toward lower-efficiency equipment purchases, fewer full-system sales, and modestly higher R-22 mix likely exacerbates already weak fundamentals near term."
"Maintaining our 2011 EPS estimate of $4.32, including a 4Q11E of $0.70; Maintaining our 2012 EPS estimate of $4.85."
For an analyst ratings summary and ratings history on Regal Beloit click here. For more ratings news on Regal Beloit click here.
Shares of Regal Beloit closed at $55.16 yesterday.
KeyBanc analyst says, "Following a cautious tone from our distributor contacts, we believe the near-term trajectory in residential HVAC markets warrants caution. With consumer/housing weakness still a drag and channel inventories somewhat elevated (per our channel work), we see muted growth for RBC over the next few quarters. Equally as important, we believe homeowner bias toward lower-efficiency equipment purchases, fewer full-system sales, and modestly higher R-22 mix likely exacerbates already weak fundamentals near term."
"Maintaining our 2011 EPS estimate of $4.32, including a 4Q11E of $0.70; Maintaining our 2012 EPS estimate of $4.85."
For an analyst ratings summary and ratings history on Regal Beloit click here. For more ratings news on Regal Beloit click here.
Shares of Regal Beloit closed at $55.16 yesterday.
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