RBC Bearings Incorporated (NASDAQ:ROLL) Downgraded by BidaskClub

BidaskClub cut shares of RBC Bearings Incorporated (NASDAQ:ROLL) from a hold rating to a sell rating in a report issued on Friday, July 28th.

Separately, Zacks Investment Research raised shares of RBC Bearings from a hold rating to a buy rating and set a $113.00 price target for the company in a research report on Friday, June 2nd.

Shares of RBC Bearings (ROLL) opened at 106.41 on Friday. The firm has a market capitalization of $2.53 billion, a PE ratio of 34.19 and a beta of 1.30. RBC Bearings has a 12-month low of $67.99 and a 12-month high of $111.04. The company’s 50-day moving average price is $103.76 and its 200 day moving average price is $98.75.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.82 by $0.09. The company had revenue of $163.90 million for the quarter, compared to the consensus estimate of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, equities analysts forecast that RBC Bearings will post $3.63 earnings per share for the current year.

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In other news, insider Thomas M. Burigo sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Hartnett sold 26,745 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $103.84, for a total transaction of $2,777,200.80. The disclosure for this sale can be found here. Insiders sold 135,425 shares of company stock worth $14,249,574 in the last quarter. Company insiders own 3.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of ROLL. Strs Ohio increased its position in shares of RBC Bearings by 71.4% in the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after buying an additional 637 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of RBC Bearings by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock worth $167,000 after buying an additional 102 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of RBC Bearings during the fourth quarter worth $180,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of RBC Bearings during the first quarter worth $190,000.

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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