RBC Bearings’s Neutral Rating Reaffirmed at Zacks (ROLL)
RBC Bearings (NASDAQ:ROLL)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday. They currently have a $69.00 target price on the stock. Zacks‘s price target indicates a potential upside of 5.75% from the company’s current price.
Zacks’ analyst wrote, “RBC Bearings reported improved year over year results for the fourth quarter of fiscal 2014. Earnings increased 6% to $0.73 per share, while revenues recorded a hike of 10% to $113.7 million. The rise in revenues was a result of the sales hike in aerospace and defense markets along with a rise in the industrial market sales. RBC Bearings has also been growing inorganically from the past acquisitions, which are expected to contribute roughly $25 million annually to revenues. However, RBC Bearings’ presence outside the U.S. exposes it to various geo-political and economic risks. The company’s dependence on a few customers comprising a major portion of revenues increases the risk in case a customer opts out. Also, usage of steel as the main raw material is another headwind. Based on these factors, we maintain a Neutral recommendation on the stock.”
RBC Bearings (NASDAQ:ROLL) traded down 0.64% on Monday, hitting $64.83. 38,718 shares of the company’s stock traded hands. RBC Bearings has a one year low of $54.09 and a one year high of $71.25. The stock’s 50-day moving average is $62. and its 200-day moving average is $64.1. The company has a market cap of $1.507 billion and a price-to-earnings ratio of 25.19.
RBC Bearings (NASDAQ:ROLL) last released its earnings data 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.
In other RBC Bearings news, CEO Michael J. Hartnett unloaded 22,374 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $64.18, for a total transaction of $1,435,963.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision plain, roller and ball bearings.
To view Zacks’ full report, visit Zacks’ official website.
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