RBC Bearings (NASDAQ:ROLL) Stock Rating Lowered by BidaskClub

RBC Bearings (NASDAQ:ROLL) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday, BidAskClub reports.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada upgraded shares of RBC Bearings from an “underweight” rating to a “neutral” rating in a report on Thursday, May 21st. Alembic Global Advisors raised shares of RBC Bearings from an “underweight” rating to a “neutral” rating and set a $119.00 target price for the company in a research note on Thursday, May 21st. Finally, SunTrust Banks reaffirmed a “sell” rating and issued a $85.00 target price on shares of RBC Bearings in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. RBC Bearings has a consensus rating of “Hold” and a consensus target price of $138.00.

NASDAQ ROLL traded down $2.37 during trading hours on Friday, hitting $122.42. The company’s stock had a trading volume of 127,198 shares, compared to its average volume of 81,703. The stock has a fifty day moving average of $130.95 and a 200 day moving average of $138.65. RBC Bearings has a twelve month low of $77.63 and a twelve month high of $185.05. The firm has a market capitalization of $3.04 billion, a P/E ratio of 24.19 and a beta of 1.27. The company has a quick ratio of 2.36, a current ratio of 5.90 and a debt-to-equity ratio of 0.04.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Wednesday, May 20th. The industrial products company reported $1.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.33. RBC Bearings had a net margin of 17.33% and a return on equity of 11.93%. The business had revenue of $185.80 million for the quarter, compared to analyst estimates of $182.72 million. During the same period in the prior year, the business posted $1.33 earnings per share. RBC Bearings’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that RBC Bearings will post 3.98 earnings per share for the current year.

In other news, Director Amir Faghri sold 945 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $135.74, for a total transaction of $128,274.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard R. Crowell sold 12,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $139.10, for a total transaction of $1,738,750.00. The disclosure for this sale can be found here. Insiders sold 20,992 shares of company stock valued at $2,931,275 in the last ninety days. Insiders own 3.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of RBC Bearings by 59.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 949 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 355 shares in the last quarter. Meeder Asset Management Inc. grew its position in RBC Bearings by 14,285.7% in the first quarter. Meeder Asset Management Inc. now owns 1,007 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 1,000 shares in the last quarter. Jane Street Group LLC bought a new position in RBC Bearings in the fourth quarter valued at $230,000. Permanens Capital L.P. grew its position in RBC Bearings by 13.2% in the first quarter. Permanens Capital L.P. now owns 1,500 shares of the industrial products company’s stock valued at $169,000 after purchasing an additional 175 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in RBC Bearings in the second quarter valued at $213,000. 96.81% of the stock is owned by institutional investors.

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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