On May 30, 2016, Zacks Investment Research upgraded RBC Bearings Inc. (NASDAQ:ROLL) to a Zacks Rank #2 (Buy) from a Zacks Rank #3 (Hold). Going by the Zacks model, companies holding a Zacks Rank #2 have chances of performing better than the broader market over the upcoming quarters.
Why the Upgrade?
Improvement in the company’s aerospace business on the back of higher demand for both commercial original equipment manufacturing and aftermarket activity has been supporting its top line and bottom line.
In addition, the successful acquisition of Sargent Aerospace & Defense business has been substantially boosting the company’s revenues and margin growth trajectory. We note that improved backlog, greater operational efficacy and strategic cost-saving programs will all help to further expand RBC Bearings’ margins in the upcoming quarters. The company also expects the booming demand in the global construction and general industries to help increase its aggregate revenues by improving sales of its industrial products.
Also, RBC Bearings remains committed toward rewarding its shareholders through dividend payments and shares repurchases. Given its strong cash position, RBC Bearings intends to use the excess cash and earnings for expansion and development of its existing businesses.
Such optimistic aspects have triggered an upward revision in the Zacks Consensus Estimate for the stock over the last 90 days. The Zacks Consensus Estimate inched up roughly 1% to $3.40 for fiscal 2017.
Other Stocks to Consider
Some other favorably placed stocks in the industry include Gorman-Rupp Co. (NYSE:GRC) , Kadant Inc. (NYSE:KAI) and Luxfer Holdings PLC (NYSE:LXFR) . All the stocks currently hold the same Zacks Rank as RBC Bearings.
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KADANT INC (KAI): Free Stock Analysis Report
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RBC BEARINGS (ROLL): Free Stock Analysis Report
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Zacks Investment Research
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Is This The Right Time To Buy RBC Bearings (ROLL) Stock?
Published 05/31/2016, 08:55 AM
Updated 07/09/2023, 06:31 AM
Is This The Right Time To Buy RBC Bearings (ROLL) Stock?
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