Zacks Investment Research downgraded shares of RBC Bearings Incorporated (NASDAQ:ROLL) from a buy rating to a hold rating in a research note published on Monday morning.

According to Zacks, “Over the last three months, RBC Bearings’ shares have outperformed the industry. The company reported better-than-expected earnings for first-quarter fiscal 2018. Quarterly earnings came in at 91 cents, comfortably surpassing the Zacks Consensus Estimate of 82 cents. In addition, net sales during the reported quarter beat the Zacks Consensus Estimate by 1.8%. The upswing was stemmed by sturdy sales in both aerospace and industrial end markets. Robust demand, effective integration of Sargent business, lower costs and greater operational efficacy will likely enhance near-term profitability. However, over the last three-month period, the stock looks a bit overvalued compared to the industry. Even so, market headwinds such as weak energy prices, or a stronger U.S. dollar might limit near-term growth. Over the last 30 days, Zacks Consensus Estimate for the stock remained unchanged for both fiscal 2018 and 2019.”

Separately, BidaskClub cut shares of RBC Bearings from a hold rating to a sell rating in a research note on Friday, July 28th.

RBC Bearings (NASDAQ:ROLL) opened at 126.00 on Monday. The stock’s 50 day moving average is $108.54 and its 200 day moving average is $101.53. RBC Bearings has a 12-month low of $67.99 and a 12-month high of $126.00. The company has a market cap of $3.00 billion, a P/E ratio of 42.42 and a beta of 1.30.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. The firm had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities analysts forecast that RBC Bearings will post $3.66 earnings per share for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio raised its position in shares of RBC Bearings by 71.4% in the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 637 shares during the period. Victory Capital Management Inc. raised its position in shares of RBC Bearings by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 102 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of RBC Bearings in the first quarter valued at about $190,000. Finally, LLBH Private Wealth Management LLC bought a new position in shares of RBC Bearings in the second quarter valued at about $254,000. 99.87% of the stock is currently owned by institutional investors.

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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