RBC Bearings Incorporated (ROLL) Given Consensus Recommendation of “Buy” by Analysts
RBC Bearings Incorporated (NASDAQ:ROLL) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $141.00.
Several analysts have recently commented on the company. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Drexel Hamilton assumed coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective for the company. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research report on Monday, January 8th. ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, CL King assumed coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price target for the company.
Shares of RBC Bearings (ROLL) traded up $3.53 during trading hours on Friday, reaching $128.00. The company’s stock had a trading volume of 120,949 shares, compared to its average volume of 78,794. The company has a market capitalization of $3,108.99, a price-to-earnings ratio of 37.87, a P/E/G ratio of 5.58 and a beta of 1.29. The company has a current ratio of 4.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.23. RBC Bearings has a 1-year low of $88.70 and a 1-year high of $139.95.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.19. The business had revenue of $166.86 million for the quarter, compared to analyst estimates of $163.46 million. RBC Bearings had a return on equity of 11.79% and a net margin of 12.52%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities research analysts expect that RBC Bearings will post 3.91 earnings per share for the current year.
In other RBC Bearings news, Director Amir Faghri sold 4,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $125.31, for a total value of $563,895.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan B. Levine sold 4,900 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $115.70, for a total value of $566,930.00. The disclosure for this sale can be found here. Insiders have sold 30,847 shares of company stock valued at $3,794,853 over the last ninety days. 3.70% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of RBC Bearings in the third quarter worth $189,000. Global X Management Co. LLC boosted its stake in RBC Bearings by 75.0% during the fourth quarter. Global X Management Co. LLC now owns 1,645 shares of the industrial products company’s stock valued at $208,000 after buying an additional 705 shares during the period. Comerica Bank bought a new stake in RBC Bearings during the third quarter valued at $230,000. Strs Ohio boosted its stake in RBC Bearings by 58.3% during the third quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after buying an additional 700 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in RBC Bearings during the third quarter valued at $251,000. 99.08% of the stock is owned by institutional investors and hedge funds.
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