RBC Bearings (NASDAQ:ROLL) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Friday. Drexel Hamilton assumed coverage on RBC Bearings in a research report on Thursday, December 21st. They set a “buy” rating and a $140.00 target price for the company. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. CL King assumed coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price for the company. Finally, Bank of America lifted their price objective on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. RBC Bearings has a consensus rating of “Buy” and a consensus price target of $141.00.
RBC Bearings (NASDAQ ROLL) opened at $122.62 on Friday. The stock has a market capitalization of $2,972.92, a PE ratio of 36.39, a PEG ratio of 5.59 and a beta of 1.29. RBC Bearings has a 12-month low of $88.70 and a 12-month high of $139.95. The company has a current ratio of 4.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.
In other news, insider Michael J. Hartnett sold 500 shares of RBC Bearings stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $128.00, for a total transaction of $64,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock worth $4,632,657 in the last quarter. 3.70% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Harbour Investment Management LLC bought a new position in shares of RBC Bearings during the 4th quarter valued at about $2,386,000. US Bancorp DE lifted its holdings in shares of RBC Bearings by 4.4% during the 4th quarter. US Bancorp DE now owns 17,229 shares of the industrial products company’s stock valued at $2,178,000 after purchasing an additional 719 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of RBC Bearings by 62.0% during the 4th quarter. Aperio Group LLC now owns 6,134 shares of the industrial products company’s stock valued at $775,000 after purchasing an additional 2,347 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of RBC Bearings by 28.4% during the 4th quarter. Congress Asset Management Co. MA now owns 30,871 shares of the industrial products company’s stock valued at $3,902,000 after purchasing an additional 6,833 shares in the last quarter. Finally, Port Capital LLC bought a new position in shares of RBC Bearings during the 4th quarter valued at about $9,544,000. Institutional investors and hedge funds own 98.64% 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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