RBC Bearings (ROLL) Rating Lowered to Sell at BidaskClub

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BidaskClub cut shares of RBC Bearings (NASDAQ:ROLL) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other analysts have also weighed in on the company. Zacks Investment Research raised RBC Bearings from a sell rating to a hold rating in a research note on Thursday, February 7th. Seaport Global Securities reiterated a neutral rating on shares of RBC Bearings in a research report on Monday, January 14th. ValuEngine upgraded RBC Bearings from a hold rating to a buy rating in a research report on Wednesday, January 2nd. Finally, Bank of America downgraded RBC Bearings from a buy rating to a neutral rating and set a $165.00 target price for the company. in a research report on Wednesday, November 14th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $160.00.

Shares of ROLL traded up $1.79 during trading hours on Thursday, hitting $135.26. 73,459 shares of the company were exchanged, compared to its average volume of 105,586. The firm has a market cap of $3.27 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 4.76 and a beta of 1.36. RBC Bearings has a fifty-two week low of $111.61 and a fifty-two week high of $169.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.50 and a current ratio of 6.44.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.01. The business had revenue of $171.45 million for the quarter, compared to analyst estimates of $175.96 million. RBC Bearings had a return on equity of 12.77% and a net margin of 14.34%. RBC Bearings’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. On average, research analysts predict that RBC Bearings will post 4.72 earnings per share for the current fiscal year.

In other RBC Bearings news, CFO Daniel A. Bergeron sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $132.42, for a total value of $2,648,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its position in shares of RBC Bearings by 66.7% during the fourth quarter. IFP Advisors Inc now owns 195 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the last quarter. Berman Capital Advisors LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $33,000. Advisory Services Network LLC boosted its position in shares of RBC Bearings by 39.7% during the fourth quarter. Advisory Services Network LLC now owns 577 shares of the industrial products company’s stock valued at $75,000 after buying an additional 164 shares during the last quarter. YorkBridge Wealth Partners LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $77,000. Finally, First Hawaiian Bank boosted its position in shares of RBC Bearings by 55.7% during the fourth quarter. First Hawaiian Bank now owns 699 shares of the industrial products company’s stock valued at $92,000 after buying an additional 250 shares during the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.

About RBC Bearings

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.

Further Reading: SEC Filing

Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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