RBC Bearings Incorporated (ROLL) Upgraded by BidaskClub to Hold
RBC Bearings Incorporated (NASDAQ:ROLL) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Separately, Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Friday, June 2nd.
RBC Bearings (NASDAQ ROLL) traded up 0.50% during trading on Friday, hitting $106.00. The stock had a trading volume of 93,294 shares. The firm has a 50 day moving average price of $104.04 and a 200-day moving average price of $98.89. 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 $2.52 billion, a PE ratio of 34.06 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.09. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The company had revenue of $163.90 million during the quarter, compared to analyst estimates of $160.42 million. During the same quarter last year, the business posted $0.77 EPS. RBC Bearings’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that RBC Bearings will post $3.66 EPS for the current year.
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In other news, insider Michael J. Hartnett sold 25,802 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $106.64, for a total transaction of $2,751,525.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $104.19, for a total transaction of $1,041,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,425 shares of company stock valued at $14,249,574. 3.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. Wasatch Advisors Inc. raised its position in RBC Bearings by 131.3% in the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after buying an additional 487,495 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in RBC Bearings by 26.0% in the second quarter. Public Employees Retirement System of Ohio now owns 20,494 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 4,229 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in RBC Bearings by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 17,650 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 146 shares in the last quarter. State Street Corp raised its position in RBC Bearings by 6.7% in the second quarter. State Street Corp now owns 449,710 shares of the industrial products company’s stock worth $45,764,000 after buying an additional 28,142 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in RBC Bearings by 56.1% in the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock worth $50,151,000 after buying an additional 177,117 shares in the last quarter.
RBC Bearings Company Profile
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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