Shares of RBC Bearings Incorporated (NASDAQ:ROLL) have earned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $140.67.
ROLL has been the topic of a number of research reports. Drexel Hamilton initiated coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 target price on the stock. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a research note on Monday, January 8th. Finally, BidaskClub cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd.
Shares of NASDAQ ROLL traded up $0.61 during midday trading on Thursday, reaching $123.05. 28,876 shares of the company were exchanged, compared to its average volume of 84,513. The stock has a market cap of $2,965.50, a PE ratio of 33.09, a PEG ratio of 4.44 and a beta of 1.26. RBC Bearings has a one year low of $91.00 and a one year high of $139.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.65 and a current ratio of 4.65.
RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.19. The firm had revenue of $166.86 million for the quarter, compared to analysts’ expectations of $163.46 million. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. sell-side analysts predict that RBC Bearings will post 3.91 earnings per share for the current fiscal year.
In related news, VP Patrick S. Bannon sold 447 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $124.00, for a total value of $55,428.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 3,203 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $128.35, for a total transaction of $411,105.05. The disclosure for this sale can be found here. In the last three months, insiders sold 92,989 shares of company stock worth $11,736,880. 3.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC acquired a new position in RBC Bearings in the fourth quarter valued at $9,120,000. Swiss National Bank lifted its holdings in RBC Bearings by 4.3% in the fourth quarter. Swiss National Bank now owns 41,690 shares of the industrial products company’s stock valued at $5,270,000 after buying an additional 1,700 shares during the period. Great West Life Assurance Co. Can lifted its holdings in RBC Bearings by 44.7% in the third quarter. Great West Life Assurance Co. Can now owns 3,002 shares of the industrial products company’s stock valued at $373,000 after buying an additional 928 shares during the period. Teacher Retirement System of Texas lifted its holdings in RBC Bearings by 314.6% in the fourth quarter. Teacher Retirement System of Texas now owns 8,317 shares of the industrial products company’s stock valued at $1,051,000 after buying an additional 6,311 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in RBC Bearings by 22.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 352,148 shares of the industrial products company’s stock valued at $44,511,000 after buying an additional 64,511 shares during the period. Institutional investors and hedge funds own 99.47% of the company’s stock.
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RBC Bearings Company Profile
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.