KeyBanc Raises Price Target on RBC Bearings (ROLL), Sees Acquisitions in Near Term
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Price: $212.38 --0%
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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KeyBanc is reiterating its Buy rating on shares of RBC Bearings (NASDAQ: ROLL) and is raising its price target from $40 to $46 following the release and conference of the company's second quarter results.
The firm believes that RBC Bearings is "one of the most attractively positioned names on our list, with a profile that results in lower revenue volatility through the cycle and the likelihood for a higher multiple."
KeyBanc notes that ROLL products have strong niches in solid and growth end markets and has the ability to increase its prices.
An analyst at KeyBanc comments, "we believe the Company is well positioned to deploy cash to create shareholder value. In short, we think that ROLL, much like Westinghouse Air Brake Technologies Corporation (NYSE: WAB) and generally speaking TriMas Corporation (Nasdaq: TRS) has a product line and competitive position that results in a higher probability of favorable shareholder outcomes through the cycle."
The firm is raising its FY12 and FY13 EPS estimates from $2.02 and $2.39 to $2.06 and $2.55. KeyBanc is also modeling free cash flow of $25 million and $30 million in FY12 and FY13.
For an analyst ratings summary and ratings history on RBC Bearings click here. For more ratings news on RBC Bearings click here.
Shares of RBC Bearings closed at $40.22 yesterday.
The firm believes that RBC Bearings is "one of the most attractively positioned names on our list, with a profile that results in lower revenue volatility through the cycle and the likelihood for a higher multiple."
KeyBanc notes that ROLL products have strong niches in solid and growth end markets and has the ability to increase its prices.
An analyst at KeyBanc comments, "we believe the Company is well positioned to deploy cash to create shareholder value. In short, we think that ROLL, much like Westinghouse Air Brake Technologies Corporation (NYSE: WAB) and generally speaking TriMas Corporation (Nasdaq: TRS) has a product line and competitive position that results in a higher probability of favorable shareholder outcomes through the cycle."
The firm is raising its FY12 and FY13 EPS estimates from $2.02 and $2.39 to $2.06 and $2.55. KeyBanc is also modeling free cash flow of $25 million and $30 million in FY12 and FY13.
For an analyst ratings summary and ratings history on RBC Bearings click here. For more ratings news on RBC Bearings click here.
Shares of RBC Bearings closed at $40.22 yesterday.
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