RBC Bearings (NASDAQ:ROLL) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other research analysts have also issued reports on the stock. Drexel Hamilton started coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price on the stock. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Friday, February 2nd. ValuEngine lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, CL King started coverage on shares of RBC Bearings in a research note on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. RBC Bearings currently has an average rating of “Buy” and an average price target of $141.00.
Shares of RBC Bearings (NASDAQ ROLL) traded down $0.92 on Wednesday, hitting $125.83. 50,182 shares of the stock traded hands, compared to its average volume of 87,512. RBC Bearings has a 52 week low of $89.87 and a 52 week high of $139.95. The firm has a market cap of $3,068.00, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 5.50 and a beta of 1.29. The company has a current ratio of 4.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.23.
In other RBC Bearings news, CEO Michael J. Hartnett sold 3,203 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $128.35, for a total value of $411,105.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amir Faghri sold 4,500 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $125.31, for a total transaction of $563,895.00. The disclosure for this sale can be found here. Insiders sold a total of 85,689 shares of company stock worth $10,817,880 over the last quarter. 3.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB bought a new stake in RBC Bearings in the 4th quarter valued at $312,000. Envestnet Asset Management Inc. boosted its holdings in RBC Bearings by 3.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,030 shares of the industrial products company’s stock valued at $3,290,000 after purchasing an additional 845 shares during the period. Sterling Capital Management LLC bought a new stake in RBC Bearings in the 4th quarter valued at $1,129,000. MetLife Investment Advisors LLC bought a new stake in RBC Bearings in the 4th quarter valued at $1,375,000. Finally, Gotham Asset Management LLC bought a new stake in RBC Bearings in the 4th quarter valued at $374,000. 99.59% of the stock is owned by hedge funds and other institutional investors.
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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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