Posted by admin on Aug 12th, 2022

RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $252.45, for a total transaction of $757,350.00. Following the transaction, the director now owns 25,083 shares of the company’s stock, valued at approximately $6,332,203.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:ROLL opened at $256.78 on Friday. The company has a 50-day simple moving average of $204.98 and a 200-day simple moving average of $189.52. RBC Bearings Incorporated has a one year low of $152.90 and a one year high of $257.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.42 and a current ratio of 2.77. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 124.65, a PEG ratio of 6.34 and a beta of 1.36.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.39. RBC Bearings had a net margin of 6.21% and a return on equity of 6.08%. The business had revenue of $354.08 million during the quarter, compared to analysts’ expectations of $362.13 million. During the same period in the prior year, the company earned $1.04 earnings per share. The business’s revenue was up 126.7% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 6.55 EPS for the current year.

A number of equities analysts recently commented on ROLL shares. Truist Financial lowered their target price on shares of RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Royal Bank of Canada downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $218.00 to $193.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $218.00 to $193.00 in a research note on Thursday, June 23rd. TheStreet raised shares of RBC Bearings from a “c+” rating to a “b-” rating in a research report on Monday, August 1st. Finally, Citigroup boosted their price target on shares of RBC Bearings from $200.00 to $250.00 in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $229.71.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bartlett & Co. LLC purchased a new stake in shares of RBC Bearings in the second quarter valued at about $25,000. Castle Wealth Management LLC purchased a new position in RBC Bearings during the second quarter worth about $28,000. CWM LLC purchased a new position in RBC Bearings during the fourth quarter worth about $30,000. Venture Visionary Partners LLC purchased a new position in RBC Bearings during the second quarter worth about $32,000. Finally, MUFG Americas Holdings Corp raised its holdings in RBC Bearings by 185.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 180 shares of the industrial products company’s stock worth $36,000 after purchasing 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.

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.

Ikkuma Resources Corp. (IKM.V) (CVE:IKM) Stock Crosses Above 50 Day Moving Average of $0.46

Axon Enterprise (NASDAQ:AXON) PT Raised to $142.00