RBC Bearings (ROLL) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of RBC Bearings (NASDAQ:ROLL) from a buy rating to a hold rating in a report published on Thursday.

Several other brokerages have also commented on ROLL. BidaskClub lowered shares of RBC Bearings from a buy rating to a hold rating in a report on Thursday, November 8th. Royal Bank of Canada restated a sell rating on shares of RBC Bearings in a report on Thursday, August 9th. Zacks Investment Research restated a buy rating and issued a $182.00 price objective on shares of RBC Bearings in a report on Thursday, November 15th. William Blair reaffirmed an outperform rating on shares of RBC Bearings in a research report on Thursday, September 27th. Finally, Bank of America downgraded shares of RBC Bearings from a buy rating to a neutral rating and set a $165.00 target price on the stock. in a research report on Wednesday, November 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $155.00.

NASDAQ ROLL traded up $0.69 during trading on Thursday, hitting $142.62. The company had a trading volume of 5,507 shares, compared to its average volume of 72,260. The company has a current ratio of 5.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.14. RBC Bearings has a one year low of $111.61 and a one year high of $169.84. The firm has a market capitalization of $3.58 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 5.10 and a beta of 1.38.

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

In other news, insider Michael J. Hartnett sold 31,523 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $153.61, for a total value of $4,842,248.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan B. Levine sold 1,084 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 127,743 shares of company stock worth $19,451,840 over the last ninety days. Insiders own 3.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ROLL. Parallel Advisors LLC grew its position in RBC Bearings by 280.0% during the 3rd quarter. Parallel Advisors LLC now owns 741 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 546 shares during the last quarter. Quantbot Technologies LP purchased a new stake in RBC Bearings during the 3rd quarter valued at about $120,000. Synovus Financial Corp grew its position in RBC Bearings by 164.0% during the 3rd quarter. Synovus Financial Corp now owns 940 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 584 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in RBC Bearings during the 3rd quarter valued at about $213,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in RBC Bearings during the 3rd quarter valued at about $220,000. 97.17% of the stock is currently 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.

See Also: Market Capitalization

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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