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

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.”

Several other analysts also recently weighed in on the company. Drexel Hamilton assumed coverage on RBC Bearings in a report on Thursday, December 21st. They issued a buy rating and a $140.00 price objective for the company. BidaskClub downgraded RBC Bearings from a buy rating to a hold rating in a report on Tuesday, December 12th. ValuEngine downgraded RBC Bearings from a buy rating to a hold rating in a report on Friday, December 1st. CL King began coverage on RBC Bearings in a research note on Wednesday, November 29th. They issued a buy rating and a $142.00 target price on the stock. Finally, Bank of America lifted their target price on RBC Bearings from $120.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $140.75.

RBC Bearings (ROLL) traded up $2.91 during trading hours on Tuesday, hitting $126.11. The stock had a trading volume of 79,635 shares, compared to its average volume of 68,657. RBC Bearings has a fifty-two week low of $87.61 and a fifty-two week high of $139.95. The company has a market capitalization of $3,030.00, a P/E ratio of 42.75, a price-to-earnings-growth ratio of 5.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68.

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

In other news, VP Richard J. Edwards sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total transaction of $1,215,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $128.79, for a total value of $450,765.00. The disclosure for this sale can be found here. Insiders sold 37,487 shares of company stock worth $4,632,657 in the last quarter. 3.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ROLL. Wasatch Advisors Inc. boosted its position in RBC Bearings by 131.3% in the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock valued at $87,382,000 after buying an additional 487,495 shares during the last quarter. Janus Henderson Group PLC boosted its position in RBC Bearings by 56.1% in the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock valued at $50,151,000 after buying an additional 177,117 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in RBC Bearings by 48.5% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 183,242 shares of the industrial products company’s stock valued at $22,933,000 after buying an additional 59,857 shares during the last quarter. BlackRock Inc. boosted its position in RBC Bearings by 2.8% in the second quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock valued at $187,666,000 after buying an additional 49,694 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in RBC Bearings by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock valued at $286,296,000 after buying an additional 29,134 shares during the last quarter. Hedge funds and other institutional investors own 97.89% of the company’s stock.

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About RBC Bearings

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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