RBC Bearings (NASDAQ:ROLL) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of RBC Bearings (NASDAQ:ROLL) from a buy rating to a hold rating in a research note published on Wednesday, ValuEngine reports.

Separately, BidaskClub downgraded RBC Bearings from a buy rating to a hold rating in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $161.33.

NASDAQ ROLL traded up $1.41 during trading hours on Wednesday, hitting $157.32. The company’s stock had a trading volume of 61,399 shares, compared to its average volume of 113,291. RBC Bearings has a 12 month low of $123.50 and a 12 month high of $171.54. The company’s 50 day simple moving average is $160.48 and its two-hundred day simple moving average is $150.31. The company has a market cap of $3.88 billion, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 5.03 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.15 and a quick ratio of 1.72.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. RBC Bearings had a return on equity of 12.82% and a net margin of 15.26%. The company had revenue of $182.69 million during the quarter, compared to the consensus estimate of $183.13 million. During the same period last year, the company earned $1.15 EPS. RBC Bearings’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts predict that RBC Bearings will post 5.28 earnings per share for the current fiscal year.

In related news, Director Thomas J. Obrien sold 1,800 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $152.25, for a total value of $274,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel A. Bergeron sold 20,000 shares of RBC Bearings stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $157.74, for a total value of $3,154,800.00. The disclosure for this sale can be found here. Insiders sold a total of 86,856 shares of company stock valued at $13,800,901 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ROLL. Kavar Capital Partners LLC bought a new stake in shares of RBC Bearings during the 2nd quarter valued at about $32,000. Advisory Services Network LLC grew its stake in shares of RBC Bearings by 20.8% during the 1st quarter. Advisory Services Network LLC now owns 697 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 120 shares during the period. YorkBridge Wealth Partners LLC grew its stake in shares of RBC Bearings by 9.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 914 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 76 shares during the period. Parallel Advisors LLC grew its stake in shares of RBC Bearings by 27.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,204 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 256 shares during the period. Finally, Park National Corp OH bought a new stake in shares of RBC Bearings during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 98.53% of the company’s stock.

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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