Zacks Investment Research cut shares of RBC Bearings Incorporated (NASDAQ:ROLL) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Over the last three months, RBC Bearings’ shares have outperformed the industry. The company reported better-than-expected earnings for first-quarter fiscal 2018. Quarterly earnings came in at 91 cents, comfortably surpassing the Zacks Consensus Estimate of 82 cents. In addition, net sales during the reported quarter beat the Zacks Consensus Estimate by 1.8%. The upswing was stemmed by sturdy sales in both aerospace and industrial end markets. Robust demand, effective integration of Sargent business, lower costs and greater operational efficacy will likely enhance near-term profitability. However, over the last three-month period, the stock looks a bit overvalued compared to the industry. Even so, market headwinds such as weak energy prices, or a stronger U.S. dollar might limit near-term growth. Over the last 60 days, Zacks Consensus Estimate for the stock remained unchanged for both fiscal 2018 and 2019.”

Separately, BidaskClub upgraded RBC Bearings from a sell rating to a hold rating in a report on Saturday, August 19th.

RBC Bearings (NASDAQ:ROLL) traded up 0.07% during mid-day trading on Tuesday, reaching $126.73. The company had a trading volume of 69,522 shares. RBC Bearings has a 1-year low of $67.99 and a 1-year high of $135.54. The company has a market capitalization of $3.02 billion, a PE ratio of 40.72 and a beta of 1.32. The firm has a 50-day moving average of $120.20 and a 200 day moving average of $106.50.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. The business had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $160.42 million. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts predict that RBC Bearings will post $3.66 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. Strs Ohio grew its holdings in RBC Bearings by 71.4% during the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock valued at $122,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 valued at $126,000 after buying an additional 637 shares in the last quarter. Victory Capital Management Inc. grew its holdings in RBC Bearings by 6.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock valued at $167,000 after buying an additional 102 shares in the last quarter. LLBH Private Wealth Management LLC purchased a new position in RBC Bearings during the 2nd quarter valued at approximately $254,000. Finally, Prudential Financial Inc. grew its holdings in RBC Bearings by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,638 shares of the industrial products company’s stock valued at $268,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

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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