RBC Bearings Inc. (ROLL) Stock Rating Lowered by Zacks Investment Research
RBC Bearings Inc. (NASDAQ:ROLL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
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. Also, the company's increasing costs and expenses, if left unchecked, might prove detrimental to profitability in the near term. Over the last 60 days, the Zacks Consensus Estimate for the company has been revised downwards for both fiscal 2017 and 2018.”
Separately, Seaport Global Securities downgraded shares of RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 target price on the stock. in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and an average target price of $75.60.
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Shares of RBC Bearings (NASDAQ:ROLL) traded down 0.65% during midday trading on Monday, reaching $70.83. 76,142 shares of the company’s stock traded hands. RBC Bearings has a one year low of $54.38 and a one year high of $87.82. The company has a 50-day moving average of $76.34 and a 200-day moving average of $74.89. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 24.34 and a beta of 1.19.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The company earned $154.58 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same period last year, the firm posted $0.78 EPS. RBC Bearings’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that RBC Bearings will post $3.34 EPS for the current year.
In related news, insider Michael J. Hartnett sold 6,742 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $76.12, for a total value of $513,201.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of RBC Bearings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,448 shares of the company’s stock valued at $105,000 after buying an additional 631 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of RBC Bearings during the second quarter valued at $116,000. BlackRock Inc. boosted its stake in shares of RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock valued at $121,000 after buying an additional 869 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $157,000 after buying an additional 1,020 shares in the last quarter. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of RBC Bearings during the second quarter valued at $206,000. Institutional investors own 99.73% of the company’s stock.
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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