RBC Bearings Incorporated (ROLL) Given Average Rating of “Buy” by Brokerages

RBC Bearings Incorporated (NASDAQ:ROLL) has received a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $140.67.

Several analysts have recently commented on ROLL shares. CL King started coverage on shares of RBC Bearings in a research note on Wednesday, November 29th. They set a “buy” rating and a $142.00 price target on the stock. Bank of America increased their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Tuesday, September 26th. BidaskClub cut shares of RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, Drexel Hamilton started coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 price target on the stock.

RBC Bearings (ROLL) traded up $3.37 during midday trading on Friday, hitting $129.64. 107,641 shares of the stock traded hands, compared to its average volume of 66,016. The firm has a market capitalization of $3,061.44, a price-to-earnings ratio of 43.95, a price-to-earnings-growth ratio of 5.85 and a beta of 1.35. The company has a current ratio of 4.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. RBC Bearings has a 12 month low of $88.70 and a 12 month high of $139.95.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. During the same period in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. research analysts expect that RBC Bearings will post 3.68 earnings per share for the current year.

In other RBC Bearings news, insider Michael J. Hartnett sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $128.00, for a total value of $64,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $128.79, for a total transaction of $450,765.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,487 shares of company stock worth $4,632,657. Insiders own 3.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its position in shares of RBC Bearings by 2.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 135,578 shares of the industrial products company’s stock worth $17,138,000 after purchasing an additional 3,860 shares in the last quarter. Wasatch Advisors Inc. boosted its position in shares of RBC Bearings by 20.4% during the fourth quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock worth $151,512,000 after purchasing an additional 203,366 shares in the last quarter. Davis R M Inc. boosted its position in shares of RBC Bearings by 46.8% during the fourth quarter. Davis R M Inc. now owns 61,549 shares of the industrial products company’s stock worth $7,780,000 after purchasing an additional 19,619 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of RBC Bearings by 3.3% during the fourth quarter. Confluence Investment Management LLC now owns 24,531 shares of the industrial products company’s stock worth $3,101,000 after purchasing an additional 774 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of RBC Bearings by 23.1% during the third quarter. Public Employees Retirement System of Ohio now owns 25,231 shares of the industrial products company’s stock worth $3,158,000 after purchasing an additional 4,737 shares in the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.

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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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