RBC Bearings Incorporated (NASDAQ:ROLL) – Investment analysts at KeyCorp boosted their FY2018 earnings per share (EPS) estimates for RBC Bearings in a note issued to investors on Tuesday. KeyCorp analyst S. Barger now forecasts that the industrial products company will earn $3.92 per share for the year, up from their previous forecast of $3.80. KeyCorp also issued estimates for RBC Bearings’ FY2020 earnings at $5.19 EPS.
ROLL has been the subject of a number of other research reports. Bank of America boosted their price target on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Drexel Hamilton initiated coverage on RBC Bearings in a report on Thursday, December 21st. They set a “buy” rating and a $140.00 price target for the company. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Finally, ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $141.00.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.19. The firm had revenue of $166.86 million during the quarter, compared to analysts’ expectations of $163.46 million. RBC Bearings had a return on equity of 12.00% and a net margin of 12.52%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS.
In other RBC Bearings news, insider Michael J. Hartnett sold 1,687 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $128.28, for a total value of $216,408.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 500 shares of the company’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $128.00, for a total value of $64,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,487 shares of company stock valued at $3,417,257 in the last three months. 3.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC raised its position in RBC Bearings by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock worth $286,296,000 after purchasing an additional 29,134 shares during the period. Vanguard Group Inc. boosted its holdings in shares of RBC Bearings by 0.7% during the second quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock valued at $184,960,000 after acquiring an additional 12,863 shares during the period. Wasatch Advisors Inc. boosted its holdings 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 valued at $151,512,000 after acquiring an additional 203,366 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of RBC Bearings by 2.2% during the third quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock valued at $78,732,000 after acquiring an additional 13,670 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of RBC Bearings by 56.1% during the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock valued at $50,151,000 after acquiring an additional 177,117 shares during the period. 98.98% of the stock is owned by institutional investors and hedge funds.
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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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