RBC Bearings Incorporated (ROLL) Cut to “Sell” at Zacks Investment Research

RBC Bearings Incorporated (NASDAQ:ROLL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “RBC Bearings’ shares look overvalued and have underperformed the Zacks categorized Machinery-General Industrial industry, over the last three months. In third-quarter fiscal 2017, the company’s revenues missed the Zacks Consensus Estimate by roughly 1%. Certain headwinds are likely to hurt the company’s top and bottom lines in the quarters ahead. Headwinds such as weak energy resource prices, stiff industry rivalry or a stronger U.S. dollar might affect the company’s results in the near term. Moreover, escalating costs, if left unchecked, remain major concerns for the company. Over the last 60 days, the Zacks Consensus Estimate for the stock has been revised downward for both fiscal 2017 and 2018.”

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

RBC Bearings (NASDAQ:ROLL) traded up 0.79% during trading on Thursday, reaching $95.11. The company had a trading volume of 34,223 shares. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 33.04 and a beta of 1.17. The firm has a 50-day moving average of $92.87 and a 200-day moving average of $87.35. RBC Bearings has a 1-year low of $67.99 and a 1-year high of $99.92.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business earned $146.70 million during the quarter, compared to the consensus estimate of $147.66 million. RBC Bearings had a net margin of 11.01% and a return on equity of 11.32%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, analysts anticipate that RBC Bearings will post $3.16 EPS for the current fiscal year.

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In other RBC Bearings news, insider Michael J. Hartnett sold 14,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.14, for a total value of $1,327,374.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 54,896 shares of company stock worth $5,199,035. Company insiders own 4.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of RBC Bearings by 13.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,064,044 shares of the industrial products company’s stock valued at $157,858,000 after buying an additional 247,077 shares during the period. Norges Bank acquired a new position in shares of RBC Bearings during the fourth quarter valued at approximately $14,820,000. JPMorgan Chase & Co. raised its position in shares of RBC Bearings by 13.8% in the third quarter. JPMorgan Chase & Co. now owns 1,004,454 shares of the industrial products company’s stock valued at $76,821,000 after buying an additional 121,662 shares during the period. Castleark Management LLC acquired a new position in shares of RBC Bearings during the fourth quarter valued at approximately $7,624,000. Finally, Legato Capital Management LLC raised its position in shares of RBC Bearings by 9,609.0% in the first quarter. Legato Capital Management LLC now owns 78,060 shares of the industrial products company’s stock valued at $804,000 after buying an additional 77,256 shares during the period.

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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