KeyBanc Downgrades RBC Bearings (ROLL) to Sector Weight
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- Alkermes plc (ALKS) Announces Third ALKS 5461 Phase 3 Met Primary Endpoint in MDD
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
KeyBanc downgraded RBC Bearings (NASDAQ: ROLL) from Overweight to Sector Weight and removed its price target. Analyst Steve Barger sees risk/reward as balanced.
"We think ROLL has done an excellent job in consistently growing earnings, generating cash flow, and generating high returns on capital. That said, we note ROLL is one of the most expensive names on our list relative to other high-quality industrials in our coverage universe. Given the current environment of tough industrial end markets, challenging out-year consensus estimates, and the lack of a sizable revenue catalyst in the near term, we think the increased risk doesn’t justify the longer-term reward. As such we are downgrading the shares to SW from OW," said Barger.
Shares of RBC Bearings closed at $77.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Cuts Price Target on Syntel, Inc. (SYNT) Following Weak 3Q
- Wedbush Cuts Price Target on Bj's Restaurants, Inc. (BJRI) to $34; Reiterates Neutral
- Wedbush Cuts Price Target on Tractor Supply (TSCO) to $65 Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesKeyBanc, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!