BidaskClub Downgrades RBC Bearings (ROLL) to Hold

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

A number of other analysts have also recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Thursday, September 27th. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of RBC Bearings in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and an average price target of $143.50.

Shares of RBC Bearings stock traded down $3.03 on Thursday, reaching $160.10. 78,882 shares of the company were exchanged, compared to its average volume of 135,805. The company has a current ratio of 5.71, a quick ratio of 2.12 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 5.68 and a beta of 1.36. RBC Bearings has a 1-year low of $111.61 and a 1-year high of $169.84.

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

In related news, Director Mitchell I. Quain sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $140.19, for a total value of $911,235.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Hartnett sold 31,523 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $153.61, for a total value of $4,842,248.03. The disclosure for this sale can be found here. Insiders have sold a total of 149,137 shares of company stock worth $22,660,927 over the last quarter. Insiders own 3.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ROLL. Guggenheim Capital LLC boosted its holdings in shares of RBC Bearings by 34.7% in the first quarter. Guggenheim Capital LLC now owns 2,945 shares of the industrial products company’s stock worth $366,000 after buying an additional 758 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in RBC Bearings by 2.0% during the second quarter. Confluence Investment Management LLC now owns 25,901 shares of the industrial products company’s stock valued at $3,336,000 after purchasing an additional 514 shares in the last quarter. Atria Investments LLC lifted its holdings in RBC Bearings by 15.4% during the second quarter. Atria Investments LLC now owns 4,602 shares of the industrial products company’s stock valued at $593,000 after purchasing an additional 613 shares in the last quarter. Amalgamated Bank lifted its holdings in RBC Bearings by 15.4% during the second quarter. Amalgamated Bank now owns 3,607 shares of the industrial products company’s stock valued at $465,000 after purchasing an additional 481 shares in the last quarter. Finally, Davis R M Inc. lifted its holdings in RBC Bearings by 16.3% during the second quarter. Davis R M Inc. now owns 83,598 shares of the industrial products company’s stock valued at $10,768,000 after purchasing an additional 11,720 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.

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