Posted by admin on Aug 14th, 2022

RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) has been given a consensus rating of “Hold” by the nine brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $229.71.

Several brokerages have recently commented on ROLL. Citigroup boosted their price objective on RBC Bearings from $200.00 to $250.00 in a report on Tuesday, August 9th. TheStreet raised RBC Bearings from a “c+” rating to a “b-” rating in a report on Monday, August 1st. Morgan Stanley boosted their price objective on RBC Bearings from $263.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and cut their target price for the stock from $218.00 to $193.00 in a research note on Thursday, June 23rd. Finally, StockNews.com raised RBC Bearings from a “sell” rating to a “hold” rating in a research note on Friday, May 27th.

Shares of ROLL opened at $264.87 on Friday. The business’s 50-day moving average price is $206.29 and its 200-day moving average price is $190.14. RBC Bearings has a twelve month low of $152.90 and a twelve month high of $264.94. The stock has a market cap of $7.66 billion, a PE ratio of 128.58, a P/E/G ratio of 6.67 and a beta of 1.36. The company has a quick ratio of 1.42, a current ratio of 2.77 and a debt-to-equity ratio of 0.65.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The industrial products company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.39. RBC Bearings had a return on equity of 6.08% and a net margin of 6.21%. The firm had revenue of $354.08 million for the quarter, compared to analysts’ expectations of $362.13 million. During the same period in the prior year, the business posted $1.04 earnings per share. The company’s revenue was up 126.7% on a year-over-year basis. On average, equities analysts forecast that RBC Bearings will post 6.56 EPS for the current fiscal year.

In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $1,500,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RBC Bearings news, Director Steven H. Kaplan sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $1,500,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan B. Levine sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $211.00, for a total value of $337,600.00. Following the completion of the sale, the director now owns 20,027 shares of the company’s stock, valued at approximately $4,225,697. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,000 shares of company stock worth $6,064,990. 2.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bartlett & Co. LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $25,000. Castle Wealth Management LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $28,000. CWM LLC bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $30,000. Venture Visionary Partners LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $32,000. Finally, MUFG Americas Holdings Corp raised its holdings in shares of RBC Bearings by 185.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 180 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 117 shares in the last quarter.

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

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