RBC Bearings (ROLL) Downgraded to “Buy” at BidaskClub

BidaskClub cut shares of RBC Bearings (NASDAQ:ROLL) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Several other research analysts have also issued reports on ROLL. Zacks Investment Research upgraded shares of RBC Bearings from a hold rating to a buy rating and set a $119.00 price target for the company in a research note on Thursday, August 10th. ValuEngine lowered shares of RBC Bearings from a buy rating to a hold rating in a research note on Friday, December 1st. CL King assumed coverage on shares of RBC Bearings in a research note on Wednesday, November 29th. They issued a buy rating and a $142.00 price target for the company. Finally, Bank of America increased their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. RBC Bearings presently has a consensus rating of Buy and a consensus price target of $139.33.

Shares of RBC Bearings (NASDAQ:ROLL) traded up $0.07 during trading on Wednesday, hitting $127.60. 61,900 shares of the company traded hands, compared to its average volume of 88,060. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. The company has a market cap of $3,090.00, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 5.99 and a beta of 1.34. RBC Bearings has a 52 week low of $83.80 and a 52 week high of $139.95.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). The business had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. equities analysts anticipate that RBC Bearings will post 3.63 EPS for the current fiscal year.

In related news, insider Michael J. Hartnett sold 6,300 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $128.68, for a total transaction of $810,684.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total transaction of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,300 shares of company stock worth $3,837,484 over the last three months. 3.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its holdings in shares of RBC Bearings by 71.4% during the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of RBC Bearings by 106.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 637 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of RBC Bearings during the 3rd quarter valued at about $189,000. Victory Capital Management Inc. boosted its holdings in shares of RBC Bearings by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 302 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of RBC Bearings during the 3rd quarter valued at about $230,000. 99.52% of the stock is currently owned by institutional investors.

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About RBC Bearings

RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.

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