RBC Bearings (NASDAQ:ROLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Over the last six months, RBC Bearings’ shares outperformed the industry. 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. However, the stock looks overvalued compared to the same for last three-month period. Weaker-than-expected aerospace and defense business sales had weighed over revenues in the reported quarter. Moreover, the company’s operating income had dipped in the reported quarter on account of increasing operating expenses. We believe escalating operating expenses, if unchecked, will continue to dent the company’s profitability in the quarters ahead. Over the last 60 days, Zacks Consensus Estimate for the stock has remained unchanged for both fiscal 2018 and 2019.”

Other analysts also recently issued reports about the stock. CL King initiated coverage on shares of RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price target on the stock. Bank of America lifted their price objective on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. BidaskClub cut shares of RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Drexel Hamilton began coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective for the company. Finally, ValuEngine cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $140.75.

Shares of RBC Bearings (ROLL) traded down $0.56 during midday trading on Tuesday, reaching $125.06. 78,900 shares of the company’s stock were exchanged, compared to its average volume of 62,200. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. The company has a market cap of $3,030.00, a P/E ratio of 42.39, a P/E/G ratio of 5.90 and a beta of 1.35. RBC Bearings has a one year low of $87.61 and a one year high of $139.95.

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

In related news, CEO Michael J. Hartnett sold 3,500 shares of RBC Bearings stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $128.79, for a total transaction of $450,765.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hartnett sold 500 shares of RBC Bearings stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $128.00, for a total transaction of $64,000.00. The disclosure for this sale can be found here. Insiders sold a total of 37,487 shares of company stock valued at $4,632,657 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of RBC Bearings by 106.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 637 shares during the period. SG Americas Securities LLC purchased a new position in shares of RBC Bearings during the 3rd quarter worth about $189,000. Comerica Bank purchased a new stake in RBC Bearings in the 3rd quarter valued at about $230,000. Parametrica Management Ltd purchased a new stake in RBC Bearings in the 3rd quarter valued at about $238,000. Finally, Strs Ohio boosted its position in RBC Bearings by 58.3% in the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after buying an additional 700 shares during the period. 97.89% of the stock is owned by hedge funds and other 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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