KeyBanc Downgrades RBC Bearings Incorporated to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on RBC Bearings Incorporated(NASDAQ:ROLL). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Aug 9, 2016.

RBC Bearings Incorporated (ROLL) shares turned negative on Wednesdays trading session with the shares closing down -0.11 points or -0.14% at a volume of 99,333. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.7. The peak price level was also seen at $77.7 while the days lowest was $77.03. Finally the shares closed at $77.37. The 52-week high of the shares is $87.82 while the 52-week low is $54.38. According to the latest information available, the market cap of the company is $1,838 M.

RBC Bearings Incorporated(ROLL) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $154.58M. Analysts had an estimated revenue of $152.83M. Earnings per share were $0.77. Analysts had estimated an EPS of $0.78.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Michael J Hartnett (President and CEO) sold 15,242 shares at $72.90 per share price.Also, On Jun 10, 2016, Thomas M Burigo (Corporate Controller) sold 10,000 shares at $75.85 per share price.On Jun 7, 2016, Thomas C Crainer (VP and General Manager) sold 25,000 shares at $75.50 per share price, according to the Form-4 filing with the securities and exchange commission.

RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision components and bearings. The Company manufactures roller bearing components and assembled parts and designs and manufactures high-precision roller and ball bearings. The Company operates in four business segments: plain bearings roller bearings ball bearings and Other. The Company’s plain bearings segment consists of several sub-classes including rod end bearings spherical plain bearings and journal bearings. The Company’s roller bearings segment manufactures four types of roller bearings: heavy duty needle roller bearings with inner rings tapered roller bearings track rollers and aircraft roller bearings. The Company’s ball bearings segment manufactures four types of ball bearings: high precision aerospace airframe control thin section and commercial ball bearings. The Company’s Other segment consists primarily of precision mechanical components and machine tool collets.

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