RBC Bearings CEO Sells $310,400 in Stock (ROLL)
RBC Bearings (NASDAQ:ROLL) CEO Michael J. Hartnett sold 5,000 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $62.08, for a total transaction of $310,400.00. Following the sale, the chief executive officer now directly owns 397,229 shares in the company, valued at approximately $24,659,976. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of RBC Bearings in a research note on Tuesday, May 20th. They now have a $63.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $67.20.
RBC Bearings (NASDAQ:ROLL) traded up 0.39% on Monday, hitting $62.47. 55,870 shares of the company’s stock traded hands. RBC Bearings has a one year low of $51.15 and a one year high of $71.25. The stock has a 50-day moving average of $61.21 and a 200-day moving average of $64.40. The company has a market cap of $1.452 billion and a price-to-earnings ratio of 24.03.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.02. The company had revenue of $113.70 million for the quarter, compared to the consensus estimate of $111.23 million. During the same quarter last year, the company posted $0.69 earnings per share. RBC Bearings’s revenue was up 10.4% compared to the same quarter last year. Analysts expect that RBC Bearings will post $3.04 EPS for the current fiscal year.
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision plain, roller and ball bearings.
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