Zacks Investment Research upgraded shares of RBC Bearings (NASDAQ:ROLL) from a sell rating to a hold rating in a research note released on Thursday.

According to Zacks, “RBC Bearings’ third-quarter fiscal 2019 earnings surpassed the Zacks Consensus Estimate by 0.9% and grew 9.5% year over year. The company expects that strong demand from industrial and aerospace end markets will continue to drive its top line in the quarters ahead. Also, stellar revenues and reduced tax expenses will likely enhance its profitability. However, in the past three months, the company’s shares has underperformed the industry and looks comparatively overvalued considering P/E multiples. Supply chain setbacks in some aerospace plants and high cost of sales are causes of concern. Over the past 30 days, Zacks Consensus Estimate for the company’s earnings has remained unchanged for fiscal 2019 and declined for fiscal 2020.”

A number of other equities analysts have also commented on the stock. Seaport Global Securities restated a neutral rating on shares of RBC Bearings in a research report on Monday, January 14th. ValuEngine upgraded shares of RBC Bearings from a hold rating to a buy rating in a research report on Wednesday, January 2nd. Bank of America lowered shares of RBC Bearings from a buy rating to a neutral rating and set a $165.00 price target on the stock. in a research report on Wednesday, November 14th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of RBC Bearings from a buy rating to a hold rating in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. RBC Bearings has a consensus rating of Hold and a consensus price target of $160.00.

Shares of ROLL opened at $129.76 on Thursday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 4.68 and a beta of 1.33. RBC Bearings has a twelve month low of $111.61 and a twelve month high of $169.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.50 and a current ratio of 6.44.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.01. The firm had revenue of $171.45 million for the quarter, compared to analyst estimates of $175.96 million. RBC Bearings had a net margin of 14.34% and a return on equity of 12.77%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Analysts expect that RBC Bearings will post 4.72 EPS for the current year.

In other RBC Bearings news, Director Alan B. Levine sold 1,084 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $150.00, for a total value of $162,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ROLL. Congress Asset Management Co. MA raised its stake in shares of RBC Bearings by 1,622.9% during the fourth quarter. Congress Asset Management Co. MA now owns 577,848 shares of the industrial products company’s stock worth $75,756,000 after buying an additional 544,308 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of RBC Bearings by 12.2% during the third quarter. Wells Fargo & Company MN now owns 719,498 shares of the industrial products company’s stock worth $108,184,000 after buying an additional 78,043 shares during the last quarter. BlackRock Inc. raised its stake in shares of RBC Bearings by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,290,937 shares of the industrial products company’s stock worth $300,340,000 after buying an additional 60,064 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of RBC Bearings during the third quarter worth approximately $8,575,000. Finally, Vanguard Group Inc boosted its holdings in shares of RBC Bearings by 2.7% in the third quarter. Vanguard Group Inc now owns 2,060,917 shares of the industrial products company’s stock valued at $309,879,000 after buying an additional 54,369 shares during the period. 99.31% of the stock is owned by institutional investors.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in 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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