RBC Bearings Inc. (ROLL) Upgraded at Zacks Investment Research
RBC Bearings Inc. (NASDAQ:ROLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “RBC Bearings' revenues and margins are currently being weighed by several headwinds. Factors like weak energy resource prices, U.K.’s Brexit vote, slow domestic demand of emerging markets and a stronger U.S. dollar has been weighing over the demand for manufacturing and industrial companies in the U.S. like RBC Bearings. Moreover, other issues such as extensive industry rivalry and increasing costs, if left unlocked, remain major causes of worry for the company. Over the last 60 days, the Zacks Consensus Estimate for the company has been revised downwards for both fiscal 2017 and 2018. However, improved aerospace business and higher marine sales are expected to boost the company’s revenues in the near term. The acquired Sargent Aerospace & Defense business is also likely to reinforce results in the upcoming quarters. RBC Bearings also intends to improve its margins on the back of greater operational efficacy.”
Separately, Avondale Partners reiterated a “buy” rating and issued a $80.00 target price on shares of RBC Bearings in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. RBC Bearings has a consensus rating of “Hold” and an average target price of $74.80.
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RBC Bearings (NASDAQ:ROLL) traded up 0.17% during trading on Wednesday, reaching $74.64. 23,302 shares of the company’s stock were exchanged. RBC Bearings has a 52 week low of $54.38 and a 52 week high of $87.82. The company’s 50 day moving average price is $77.29 and its 200-day moving average price is $74.28. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 25.65 and a beta of 1.11.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The business earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that RBC Bearings will post $3.34 EPS for the current year.
In other news, CEO Michael J. Hartnett sold 5,957 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $73.09, for a total value of $435,397.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. Commerce Bank increased its position in RBC Bearings by 0.7% in the second quarter. Commerce Bank now owns 5,445 shares of the company’s stock valued at $395,000 after buying an additional 40 shares during the period. Rhumbline Advisers increased its position in shares of RBC Bearings by 0.3% in the second quarter. Rhumbline Advisers now owns 28,424 shares of the company’s stock worth $2,061,000 after buying an additional 75 shares during the last quarter. Diversified Trust Co increased its position in shares of RBC Bearings by 2.6% in the second quarter. Diversified Trust Co now owns 3,437 shares of the company’s stock worth $249,000 after buying an additional 87 shares during the last quarter. BB&T Securities LLC increased its position in shares of RBC Bearings by 1.3% in the second quarter. BB&T Securities LLC now owns 7,553 shares of the company’s stock worth $547,000 after buying an additional 94 shares during the last quarter. Finally, FDx Advisors Inc. increased its position in shares of RBC Bearings by 5.0% in the second quarter. FDx Advisors Inc. now owns 3,107 shares of the company’s stock worth $225,000 after buying an additional 149 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.
RBC Bearings Company Profile
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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