RBC Bearings (NASDAQ:ROLL) Cut to “Hold” at BidaskClub

RBC Bearings (NASDAQ:ROLL) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, August 4th.

ROLL has been the topic of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Thursday, May 31st. SunTrust Banks assumed coverage on RBC Bearings in a research report on Wednesday, June 20th. They set a “hold” rating and a $133.00 price target on the stock. Finally, Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $142.80.

ROLL traded down $0.13 during midday trading on Friday, hitting $139.87. The company’s stock had a trading volume of 40,973 shares, compared to its average volume of 82,806. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.79 and a quick ratio of 2.12. RBC Bearings has a 52-week low of $102.33 and a 52-week high of $151.50. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 5.05 and a beta of 1.39.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The firm had revenue of $176.00 million for the quarter, compared to analyst estimates of $174.32 million. RBC Bearings had a return on equity of 12.29% and a net margin of 13.51%. RBC Bearings’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. equities research analysts anticipate that RBC Bearings will post 4.73 earnings per share for the current year.

In other news, insider Michael J. Hartnett sold 33,104 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $140.26, for a total transaction of $4,643,167.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amir Faghri sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $132.94, for a total value of $332,350.00. The disclosure for this sale can be found here. In the last three months, insiders sold 368,485 shares of company stock valued at $49,245,620. Company insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ROLL. Zurcher Kantonalbank Zurich Cantonalbank increased its position in RBC Bearings by 31.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 391 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of RBC Bearings by 58.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,857 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 687 shares during the last quarter. Guggenheim Capital LLC acquired a new position in shares of RBC Bearings during the 4th quarter valued at about $276,000. Xact Kapitalforvaltning AB acquired a new position in shares of RBC Bearings during the 4th quarter valued at about $312,000. Finally, Ramsey Quantitative Systems acquired a new position in shares of RBC Bearings during the 2nd quarter valued at about $319,000. 97.36% of the stock is owned by institutional investors and hedge funds.

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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