KeyBanc Upgrades RBC Bearings (ROLL) to Buy; More Defensive Revenue Profile & Cash Balance

KeyBanc upgraded RBC Bearings (NASDAQ: ROLL) from Hold to Buy with a price target of $40.00.

KeyBanc analyst says, "As we look across our universe, ROLL stands out as a high-quality, net-debt negative company with what we think will be a more defensive revenue profile. Specifically, we think that should the ISM slip below 50, or should Industrial Production (IP) comps turn negative, ROLL's ~50% exposure to aerospace end markets should help cushion its top line relative to other industrial consumable names like Kennametal Inc. (NYSE: KMT) and Lincoln Electric Holdings (NASDAQ: LECO). With respect to ROLL's industrial end markets, we believe its exposure to the distribution channel and to OEMs serving stronger end markets, including mining equipment and energy, could also provide some offset."

For more ratings news on RBC Bearings click here and for the rating history of RBC Bearings click here.

Shares of RBC Bearings closed at $29.39 yesterday.

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