StockNews.com Lowers RBC Bearings (NASDAQ:ROLL) to Sell

RBC Bearings (NASDAQ:ROLLGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

ROLL has been the subject of a number of other research reports. Bank of America began coverage on shares of RBC Bearings in a research report on Thursday, February 17th. They set a “buy” rating for the company. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Monday, February 14th. Wells Fargo & Company began coverage on shares of RBC Bearings in a research report on Friday, March 11th. They set an “overweight” rating and a $235.00 price objective for the company. Finally, Royal Bank of Canada began coverage on shares of RBC Bearings in a research report on Thursday, February 17th. They issued a “buy” rating and a $218.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $227.00.

Shares of RBC Bearings stock traded down $5.01 during trading on Friday, reaching $180.23. The company had a trading volume of 76,239 shares, compared to its average volume of 152,424. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 87.07 and a beta of 1.34. The firm’s fifty day moving average is $189.19 and its 200-day moving average is $200.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.88. RBC Bearings has a fifty-two week low of $165.99 and a fifty-two week high of $250.52.

RBC Bearings (NASDAQ:ROLLGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. RBC Bearings had a net margin of 7.77% and a return on equity of 5.76%. The business had revenue of $266.95 million during the quarter, compared to the consensus estimate of $253.69 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 83.0% compared to the same quarter last year. On average, research analysts anticipate that RBC Bearings will post 3.7 EPS for the current fiscal year.

In other news, VP Patrick S. Bannon sold 6,306 shares of the stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $180.07, for a total value of $1,135,521.42. Following the completion of the transaction, the vice president now directly owns 12,591 shares in the company, valued at $2,267,261.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Truist Financial Corp lifted its stake in RBC Bearings by 6.0% during the first quarter. Truist Financial Corp now owns 55,975 shares of the industrial products company’s stock valued at $10,852,000 after purchasing an additional 3,186 shares during the last quarter. Inspire Investing LLC acquired a new stake in RBC Bearings during the first quarter valued at approximately $237,000. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in RBC Bearings during the first quarter valued at approximately $1,939,000. Diversified Trust Co lifted its stake in RBC Bearings by 63.1% during the first quarter. Diversified Trust Co now owns 1,874 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 725 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in RBC Bearings by 0.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 115,947 shares of the industrial products company’s stock valued at $23,418,000 after purchasing an additional 800 shares during the last quarter.

RBC Bearings Company Profile (Get Rating)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates through 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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Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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