RBC Bearings (ROLL) Lowered to “Hold” at ValuEngine

RBC Bearings (NASDAQ:ROLL) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts have also recently commented on ROLL. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. CL King assumed coverage on shares of RBC Bearings in a research report on Wednesday. They issued a “buy” rating and a $142.00 price objective for the company. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Bank of America upped their price objective on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $139.33.

RBC Bearings (NASDAQ:ROLL) traded down $1.74 during mid-day trading on Friday, hitting $131.71. The stock had a trading volume of 73,479 shares, compared to its average volume of 91,861. 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 firm has a market cap of $3,235.52, a P/E ratio of 39.60, a P/E/G ratio of 6.26 and a beta of 1.34. RBC Bearings has a one year low of $82.83 and a one year high of $139.95.

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

In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total transaction of $1,215,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ROLL. Strs Ohio increased its holdings in RBC Bearings by 71.4% during the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 worth $126,000 after purchasing an additional 637 shares in the last quarter. SG Americas Securities LLC bought a new position in RBC Bearings during the 3rd quarter worth about $189,000. Victory Capital Management Inc. increased its holdings in 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 worth $206,000 after purchasing an additional 302 shares in the last quarter. Finally, Comerica Bank bought a new position in RBC Bearings during the 3rd quarter worth about $230,000. Hedge funds and other institutional investors own 99.50% of the company’s stock.

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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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