RBC Bearings Incorporated (ROLL) Rating Increased to Hold at Zacks Investment Research

RBC Bearings Incorporated (NASDAQ:ROLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Over the last six months, RBC Bearings’ shares outperformed the Zacks categorized Machinery-General Industrial industry. Improved aerospace business and higher mining, semiconductor as well as marine sales are likely to boost the company’s revenues in the near term. In addition, the company intends to improve its margins on the back of greater operational efficacy. However, certain headwinds such as weak energy resource prices, sluggish domestic demand of emerging markets and a stronger U.S. dollar might hurt the company’s top- and bottom-line results in the upcoming quarters. Moreover, other issues such as extensive industry rivalry and increasing costs, if left unchecked, remain major causes of worry for the company. RBC Bearings reported mixed third-quarter fiscal 2017 results. Over the last 30 days, Zacks Consensus Estimate for the stock has remained unchanged for both fiscal 2017 and 2018.”

Separately, William Blair upgraded RBC Bearings from a “market perform” rating to an “outperform” rating in a research note on Monday, December 12th.

Shares of RBC Bearings (NASDAQ:ROLL) opened at 92.75 on Friday. The company has a 50-day moving average of $93.11 and a 200-day moving average of $84.51. The firm has a market capitalization of $2.19 billion, a PE ratio of 32.22 and a beta of 1.17. RBC Bearings has a 52 week low of $67.99 and a 52 week high of $99.92.

RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Wednesday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $147.66 million. RBC Bearings had a return on equity of 11.32% and a net margin of 11.01%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. On average, equities analysts forecast that RBC Bearings will post $3.16 earnings per share for the current fiscal year.

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In other RBC Bearings news, insider Michael J. Hartnett sold 1,828 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $94.42, for a total value of $172,599.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 54,896 shares of company stock worth $5,199,035 over the last quarter. 4.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Aperio Group LLC boosted its stake in RBC Bearings by 3.3% in the third quarter. Aperio Group LLC now owns 3,817 shares of the company’s stock worth $292,000 after buying an additional 123 shares during the last quarter. Advisor Group Inc. boosted its stake in RBC Bearings by 8.2% in the third quarter. Advisor Group Inc. now owns 1,774 shares of the company’s stock worth $136,000 after buying an additional 134 shares during the last quarter. Hsbc Holdings PLC boosted its stake in RBC Bearings by 2.8% in the third quarter. Hsbc Holdings PLC now owns 7,806 shares of the company’s stock worth $598,000 after buying an additional 210 shares during the last quarter. Victory Capital Management Inc. boosted its stake in RBC Bearings by 14.6% in the third quarter. Victory Capital Management Inc. now owns 1,659 shares of the company’s stock worth $127,000 after buying an additional 211 shares during the last quarter. Finally, BOKF NA boosted its stake in RBC Bearings by 5.8% in the third quarter. BOKF NA now owns 6,011 shares of the company’s stock worth $460,000 after buying an additional 331 shares during the last quarter.

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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