RBC Bearings (ROLL) Stock Rating Upgraded by Zacks Investment Research

RBC Bearings (NASDAQ:ROLL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $141.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.45% from the company’s current price.

According to Zacks, “Over the last six months, RBC Bearings’ shares outperformed the industry. In second-quarter fiscal 2018, the company’s earnings and revenues exceeded the year-ago tallies by 6.4% and 6.7%, respectively. The upside was primarily stemmed by strong industrial business. The company perceives that sturdier industrial original equipment manufacturers’ demand as well as increased industrial distribution and aftermarket sales will continue to drive results in the quarters ahead. Moreover, the company anticipates to record wider margins in the near-term quarters on the back of its ongoing consolidation programs and increased operational efficacy. Moreover, RBC Bearings is also steadily lowering its debt burden over time.”

ROLL has been the subject of a number of other reports. BidaskClub cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Drexel Hamilton began coverage on RBC Bearings in a report on Thursday, December 21st. They set a “buy” rating and a $140.00 target price for the company. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America raised their target price on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, CL King began coverage on RBC Bearings in a report on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. RBC Bearings currently has a consensus rating of “Buy” and a consensus price target of $140.75.

Shares of RBC Bearings (ROLL) traded down $1.86 during trading on Monday, reaching $123.20. The company had a trading volume of 90,000 shares, compared to its average volume of 66,833. RBC Bearings has a 12 month low of $87.61 and a 12 month high of $139.95. The stock has a market cap of $3,030.00, a PE ratio of 41.76, a price-to-earnings-growth ratio of 5.90 and a beta of 1.35. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26.

RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $164.56 million. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. equities research analysts anticipate that RBC Bearings will post 3.63 EPS for the current year.

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,500 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $128.79, for a total value of $450,765.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock valued at $4,632,657 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC raised its position in RBC Bearings by 3.3% in the 4th quarter. Confluence Investment Management LLC now owns 24,531 shares of the industrial products company’s stock valued at $3,101,000 after purchasing an additional 774 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in RBC Bearings by 23.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,231 shares of the industrial products company’s stock valued at $3,158,000 after purchasing an additional 4,737 shares in the last quarter. California Public Employees Retirement System raised its position in RBC Bearings by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 55,207 shares of the industrial products company’s stock valued at $6,909,000 after purchasing an additional 1,707 shares in the last quarter. Janney Montgomery Scott LLC raised its position in RBC Bearings by 3.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,193 shares of the industrial products company’s stock valued at $3,153,000 after purchasing an additional 738 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in RBC Bearings by 6.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,082 shares of the industrial products company’s stock valued at $1,262,000 after purchasing an additional 622 shares in the last quarter. 97.89% of the stock is currently owned by institutional investors.

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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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