Stock analysts at Drexel Hamilton started coverage on shares of RBC Bearings (NASDAQ:ROLL) in a research report issued to clients and investors on Thursday, December 21st. The firm set a “buy” rating and a $140.00 price target on the industrial products company’s stock. Drexel Hamilton’s price objective points to a potential upside of 7.12% from the company’s current price.
A number of other equities research analysts also recently commented on ROLL. Zacks Investment Research downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Bank of America lifted their target price on shares of RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. CL King began coverage on shares of RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price objective for the company. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub cut shares of RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $140.75.
RBC Bearings (ROLL) opened at $130.70 on Thursday. RBC Bearings has a 1-year low of $87.61 and a 1-year high of $139.95. The stock has a market cap of $3,145.57, a P/E ratio of 44.31, a PEG ratio of 6.09 and a beta of 1.35. The company has a current ratio of 4.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million for the quarter, compared to the consensus estimate of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. RBC Bearings’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. sell-side analysts predict that RBC Bearings will post 3.63 EPS for the current fiscal year.
In other news, insider Michael J. Hartnett sold 1,687 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $128.28, for a total transaction of $216,408.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas C. Crainer sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total transaction of $1,811,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,487 shares of company stock worth $4,632,657. Corporate insiders own 3.70% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Strs Ohio grew its stake in RBC Bearings by 71.4% in the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in RBC Bearings by 106.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 637 shares in the last quarter. SG Americas Securities LLC bought a new position in RBC Bearings in the 3rd quarter worth about $189,000. Victory Capital Management Inc. lifted its position in shares of RBC Bearings by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 302 shares during the period. Finally, Comerica Bank purchased a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $230,000. Institutional investors and hedge funds own 97.89% of the company’s stock.
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About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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