RBC Bearings (ROLL) Downgraded by BidaskClub to “Sell”
BidaskClub cut shares of RBC Bearings (NASDAQ:ROLL) from a hold rating to a sell rating in a research report released on Thursday morning.
Several other analysts have also recently weighed in on ROLL. Bank of America cut RBC Bearings from a buy rating to a neutral rating and set a $165.00 price objective for the company. in a report on Wednesday, November 14th. They noted that the move was a valuation call. Zacks Investment Research restated a buy rating and set a $182.00 target price on shares of RBC Bearings in a research report on Thursday, November 15th. ValuEngine lowered RBC Bearings from a buy rating to a hold rating in a research report on Thursday, December 6th. Finally, Seaport Global Securities restated a neutral rating on shares of RBC Bearings in a research report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $160.00.
NASDAQ:ROLL traded up $1.79 on Thursday, hitting $135.26. 73,459 shares of the stock were exchanged, compared to its average volume of 105,586. The stock has a market capitalization of $3.27 billion, a P/E ratio of 34.95, a P/E/G ratio of 4.76 and a beta of 1.36. RBC Bearings has a 52 week low of $111.61 and a 52 week high of $169.84. The company has a current ratio of 6.44, a quick ratio of 2.50 and a debt-to-equity ratio of 0.12.
In related news, CFO Daniel A. Bergeron sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $132.42, for a total value of $2,648,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in RBC Bearings by 66.7% during the 4th quarter. IFP Advisors Inc now owns 195 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Berman Capital Advisors LLC acquired a new position in RBC Bearings during the 4th quarter worth approximately $33,000. Advisory Services Network LLC boosted its position in RBC Bearings by 39.7% during the 4th quarter. Advisory Services Network LLC now owns 577 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 164 shares during the last quarter. YorkBridge Wealth Partners LLC acquired a new position in RBC Bearings during the 4th quarter worth approximately $77,000. Finally, First Hawaiian Bank boosted its position in RBC Bearings by 55.7% during the 4th quarter. First Hawaiian Bank now owns 699 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.
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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