Posted by admin on Apr 19th, 2022

Brokerages predict that RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) will report sales of $349.77 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for RBC Bearings’ earnings, with estimates ranging from $348.48 million to $350.70 million. RBC Bearings reported sales of $160.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 118.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that RBC Bearings will report full year sales of $934.27 million for the current year, with estimates ranging from $933.70 million to $934.80 million. For the next year, analysts forecast that the firm will post sales of $1.46 billion, with estimates ranging from $1.42 billion to $1.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL – Get Rating) last issued its quarterly earnings results on Thursday, February 10th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The firm had revenue of $266.95 million for the quarter, compared to analyst estimates of $253.69 million. RBC Bearings had a net margin of 7.77% and a return on equity of 5.76%. RBC Bearings’s quarterly revenue was up 83.0% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada initiated coverage on shares of RBC Bearings in a research note on Thursday, February 17th. They issued a “buy” rating and a $218.00 price target on the stock. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a report on Monday, February 14th. Wells Fargo & Company initiated coverage on shares of RBC Bearings in a report on Friday, March 11th. They issued an “overweight” rating and a $235.00 price objective for the company. Bank of America initiated coverage on shares of RBC Bearings in a report on Thursday, February 17th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of RBC Bearings in a report on Monday, December 20th. They issued a “neutral” rating and a $217.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $227.00.

In other news, VP Patrick S. Bannon sold 6,306 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $180.07, for a total transaction of $1,135,521.42. Following the completion of the sale, the vice president now owns 12,591 shares in the company, valued at approximately $2,267,261.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Diversified Trust Co increased its holdings in RBC Bearings by 63.1% in the 1st quarter. Diversified Trust Co now owns 1,874 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 725 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in RBC Bearings by 0.7% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 115,947 shares of the industrial products company’s stock valued at $23,418,000 after purchasing an additional 800 shares during the last quarter. Norges Bank acquired a new stake in RBC Bearings in the 4th quarter valued at approximately $46,187,000. BlackRock Inc. increased its holdings in RBC Bearings by 3.5% in the 4th quarter. BlackRock Inc. now owns 2,111,378 shares of the industrial products company’s stock valued at $426,433,000 after purchasing an additional 72,304 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in RBC Bearings by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 306,036 shares of the industrial products company’s stock valued at $61,809,000 after purchasing an additional 4,586 shares during the last quarter.

Shares of RBC Bearings stock opened at $178.58 on Tuesday. The firm has a market capitalization of $5.16 billion, a PE ratio of 86.27 and a beta of 1.34. RBC Bearings has a twelve month low of $165.99 and a twelve month high of $250.52. The firm’s 50-day moving average price is $188.79 and its 200 day moving average price is $201.12. The company has a current ratio of 2.88, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74.

RBC Bearings Company Profile (Get Rating)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates through four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.

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