RBC Bearings Price Target Lowered to $62.00 at Global Hunter Securities (ROLL)
Equities research analysts at Global Hunter Securities lowered their target price on shares of RBC Bearings (NASDAQ:ROLL) from $70.00 to $62.00 in a research note issued to investors on Friday. Global Hunter Securities’ price target suggests a potential upside of 10.50% from the company’s current price.
Separately, analysts at Goldman Sachs downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $66.00 price target on the stock. Two research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and a consensus target price of $68.75.
RBC Bearings (NASDAQ:ROLL) traded up 3.10% on Friday, hitting $57.85. The stock had a trading volume of 134,283 shares. RBC Bearings has a 52 week low of $50.00 and a 52 week high of $71.25. The stock has a 50-day moving average of $61.10 and a 200-day moving average of $62.59. The company has a market cap of $1.345 billion and a P/E ratio of 21.66.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.01. The company had revenue of $113.00 million for the quarter, compared to the consensus estimate of $112.93 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that RBC Bearings will post $3.02 earnings per share 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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