UPDATE: Global Hunter Securities Downgrades RBC Bearings (ROLL) to Neutral

(Updated - March 30, 2015 10:45 AM EDT)

Global Hunter Securities downgraded RBC Bearings (NASDAQ: ROLL) from Accumulate to Neutral. The change is tied to valuation.

Analyst Walt Liptak said, "Following the trading activity in ROLL on Friday, March 27, we are lowering our rating on ROLL to Neutral from Accumulate. We continue to believe that ROLL is a top diversified industrial company and support the strategic acquisition of Sargent from DOV. However, we believe that ROLL paid a full value for Sargent, and ROLL's share price is fairly valued. We are increasing our price target to $75 from $67. Our FY2016 earnings model is unchanged. We will be adding the Sargent acquisition to our model after the deal closes."

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 $75.58 yesterday.

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