BidaskClub cut shares of RBC Bearings (NASDAQ:ROLL) from a buy rating to a hold rating in a research note released on Tuesday.
A number of other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of RBC Bearings from a buy rating to a hold rating in a research report on Friday, December 1st. CL King began coverage on shares of RBC Bearings in a research report on Wednesday, November 29th. They set a buy rating and a $142.00 target price on the stock. Bank of America upped their target price on shares of RBC Bearings from $120.00 to $140.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of RBC Bearings from a hold rating to a sell rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. RBC Bearings currently has an average rating of Hold and a consensus target price of $139.33.
RBC Bearings (ROLL) traded down $2.73 during trading on Tuesday, reaching $118.57. 73,100 shares of the company’s stock were exchanged, compared to its average volume of 88,309. The company has a current ratio of 4.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. RBC Bearings has a 52 week low of $87.61 and a 52 week high of $139.95. The firm has a market cap of $2,940.94, a P/E ratio of 35.99, a PEG ratio of 5.69 and a beta of 1.34.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The business had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. research analysts expect that RBC Bearings will post 3.63 earnings per share for the current fiscal year.
In related news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hartnett sold 1,687 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total transaction of $216,408.36. The disclosure for this sale can be found here. Insiders sold a total of 36,487 shares of company stock worth $4,504,657 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of RBC Bearings by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock valued at $286,296,000 after acquiring an additional 29,134 shares during the period. BlackRock Inc. increased its stake in RBC Bearings by 2.8% during the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after purchasing an additional 49,694 shares in the last quarter. Vanguard Group Inc. increased its stake in RBC Bearings by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock worth $184,960,000 after purchasing an additional 12,863 shares in the last quarter. Wasatch Advisors Inc. increased its stake in RBC Bearings by 15.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock worth $124,563,000 after purchasing an additional 136,604 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in RBC Bearings by 2.2% during the 3rd quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock worth $78,732,000 after purchasing an additional 13,670 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.
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About RBC Bearings
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.
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