RBC Bearings (ROLL) Rating Lowered to Hold at ValuEngine

RBC Bearings (NASDAQ:ROLL) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

ROLL has been the subject of several other reports. Zacks Investment Research reiterated a “buy” rating and issued a $182.00 target price on shares of RBC Bearings in a research note on Thursday, November 15th. BidaskClub upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Thursday, September 27th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a research note on Wednesday, November 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of RBC Bearings in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and a consensus price target of $155.00.

RBC Bearings stock opened at $137.02 on Thursday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 5.10 and a beta of 1.38. RBC Bearings has a 52 week low of $111.61 and a 52 week high of $169.84. The company has a quick ratio of 2.13, a current ratio of 5.71 and a debt-to-equity ratio of 0.14.

RBC Bearings (NASDAQ:ROLL) last released its earnings results on Friday, November 2nd. The industrial products company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.14. The firm had revenue of $172.92 million during the quarter, compared to analyst estimates of $174.30 million. RBC Bearings had a return on equity of 12.94% and a net margin of 15.54%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Research analysts predict that RBC Bearings will post 4.83 EPS for the current year.

In other RBC Bearings news, Director Alan B. Levine sold 1,084 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $150.00, for a total transaction of $162,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 5,500 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $154.04, for a total value of $847,220.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,743 shares of company stock valued at $19,451,840. 3.10% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of ROLL. Victory Capital Management Inc. grew its position in RBC Bearings by 15.9% during the second quarter. Victory Capital Management Inc. now owns 3,038 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in RBC Bearings by 31.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 391 shares during the period. Rhumbline Advisers grew its position in RBC Bearings by 2.5% during the second quarter. Rhumbline Advisers now owns 26,704 shares of the industrial products company’s stock valued at $3,440,000 after acquiring an additional 664 shares during the period. Bank of New York Mellon Corp grew its position in RBC Bearings by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 174,454 shares of the industrial products company’s stock valued at $22,472,000 after acquiring an additional 5,826 shares during the period. Finally, Eagle Asset Management Inc. grew its position in RBC Bearings by 6.2% during the second quarter. Eagle Asset Management Inc. now owns 55,969 shares of the industrial products company’s stock valued at $7,209,000 after acquiring an additional 3,248 shares during the period. 97.17% of the stock is owned by hedge funds and other institutional investors.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.

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Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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