KeyCorp Research Analysts Boost Earnings Estimates for RBC Bearings Incorporated (NASDAQ:ROLL)
RBC Bearings Incorporated (NASDAQ:ROLL) – Investment analysts at KeyCorp lifted their FY2018 EPS estimates for RBC Bearings in a research report issued to clients and investors on Wednesday. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings per share of $3.64 for the year, up from their prior forecast of $3.55. KeyCorp also issued estimates for RBC Bearings’ Q2 2019 earnings at $0.98 EPS.
ROLL has been the topic of several other reports. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Friday, June 2nd. BidaskClub lowered RBC Bearings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
RBC Bearings (NASDAQ ROLL) traded down 0.94% during midday trading on Friday, reaching $104.31. The company’s stock had a trading volume of 45,113 shares. The stock’s 50-day moving average price is $103.18 and its 200 day moving average price is $98.31. RBC Bearings has a 1-year low of $67.99 and a 1-year high of $111.04. The firm has a market capitalization of $2.48 billion, a PE ratio of 33.52 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The company had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $160.42 million. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year.
In other RBC Bearings news, insider Michael J. Hartnett sold 26,745 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $103.84, for a total value of $2,777,200.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas C. Crainer sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $106.62, for a total value of $533,100.00. The disclosure for this sale can be found here. Insiders sold 135,425 shares of company stock worth $14,249,574 over the last three months. 3.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. Strs Ohio raised its stake in shares of RBC Bearings by 71.4% in the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after buying an additional 637 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of RBC Bearings by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock worth $167,000 after buying an additional 102 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $180,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of RBC Bearings during the first quarter worth about $190,000.
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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