Insider Selling: RBC Bearings CEO Sells 18,500 Shares of Stock (ROLL)
RBC Bearings (NASDAQ:ROLL) CEO Michael J. Hartnett sold 18,500 shares of the company’s stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $63.68, for a total value of $1,178,080.00. Following the transaction, the chief executive officer now directly owns 418,135 shares of the company’s stock, valued at approximately $26,626,837. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
RBC Bearings (NASDAQ:ROLL) traded down 0.98% on Thursday, hitting $63.38. 61,578 shares of the company’s stock traded hands. RBC Bearings has a one year low of $51.55 and a one year high of $71.25. The stock’s 50-day moving average is $61.54 and its 200-day moving average is $64.21. The company has a market cap of $1.473 billion and a price-to-earnings ratio of 24.71.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts predict that RBC Bearings will post $3.04 earnings per share for the current fiscal year.
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 stock. RBC Bearings currently has an average rating of “Hold” and an average price target of $67.20.
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision plain, roller and ball bearings.
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