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RBC Bearings Downgraded by Zacks (ROLL)

Zacks lowered shares of RBC Bearings (NASDAQ:ROLL) from a neutral rating to an underperform rating in a report released on Thursday. Zacks currently has $56.00 price objective on the stock.

Zacks’ analyst wrote, “RBC Bearings reported moderate results in third-quarter fiscal 2015. Top-line figures marginally missed the Zacks Consensus Estimate in the quarter. However both adjusted earnings and revenues exceeded their respective year ago tallies. The company’s aerospace and defense trade experienced weakness due to lower distribution activities. Furthermore, the company’s business is highly exposed to threats from external market headwinds and peer group rivalry. Also, facing concentrated demand for products, the company’s sales can substantially fluctuate in case of a change in the preference pattern of certain potential buyers. Based on these factors, we prefer to downgrade our recommendation on the stock to Underperform from Neutral. To offset the negative impact of the above issues, the company needs to continue its growth drive in the industrial products’ business.”

Zacks has also taken action a number of other industrials stocks recently. The firm downgraded shares of Greenbrier Companies Inc from an outperform rating to a neutral rating. Their analysts now have a $63.00 price target on that stock. Also, Zacks reiterated its neutral rating on shares of Dover Corp. They have a $74.00 price target on that stock.

RBC Bearings (NASDAQ:ROLL) traded down 0.41% on Thursday, hitting $62.92. The stock had a trading volume of 44,492 shares. RBC Bearings has a 1-year low of $50.00 and a 1-year high of $67.25. The stock’s 50-day moving average is $61. and its 200-day moving average is $61.. The company has a market cap of $1.45 billion and a price-to-earnings ratio of 23.93.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.62 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.62. The company had revenue of $105.30 million for the quarter, compared to the consensus estimate of $106.33 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that RBC Bearings will post $2.73 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Avondale Partners initiated coverage on shares of RBC Bearings in a research note on Tuesday. They set a market perform rating and a $67.00 price target on the stock. Separately, analysts at William Blair reiterated a market perform rating and set a $69.00 price target on shares of RBC Bearings in a research note on Monday, December 22nd.

RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision plain, roller and ball bearings. The Company focuses on technical or regulated bearing products for specialized markets, which require design, testing and manufacturing capabilities. The Company operates in four product segments: Plain Bearings; Roller Bearings; Ball Bearings; and Other.

To get a free copy of the research report on RBC Bearings (ROLL), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com.

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