RBC Bearings (ROLL) Receives New Coverage from Analysts at Drexel Hamilton

Research analysts at Drexel Hamilton initiated coverage on shares of RBC Bearings (NASDAQ:ROLL) in a report issued on Thursday. The brokerage set a “buy” rating and a $140.00 price target on the industrial products company’s stock. Drexel Hamilton’s target price would indicate a potential upside of 13.02% from the company’s current price.

A number of other brokerages have also recently weighed in on ROLL. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub cut RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. CL King began coverage on RBC Bearings in a research note on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price target on the stock. Finally, Bank of America lifted their price target on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. RBC Bearings presently has a consensus rating of “Hold” and a consensus price target of $139.50.

Shares of RBC Bearings (NASDAQ ROLL) traded up $2.92 on Thursday, reaching $123.87. The company had a trading volume of 87,800 shares, compared to its average volume of 88,584. The stock has a market cap of $2,932.46, a PE ratio of 35.89, a P/E/G ratio of 5.68 and a beta of 1.34. RBC Bearings has a 1 year low of $87.61 and a 1 year high of $139.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The company had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. equities analysts anticipate that RBC Bearings will post 3.63 EPS for the current year.

In other RBC Bearings news, insider Michael J. Hartnett sold 1,687 shares of RBC Bearings stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $128.28, for a total transaction of $216,408.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 3,500 shares of RBC Bearings stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $128.79, for a total value of $450,765.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,487 shares of company stock worth $4,504,657. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ROLL. Eagle Asset Management lifted its holdings in shares of RBC Bearings by 180.3% during the 3rd quarter. Eagle Asset Management now owns 62,024 shares of the industrial products company’s stock valued at $3,704,000 after buying an additional 39,900 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of RBC Bearings by 27.4% during the 4th quarter. Neuberger Berman Group LLC now owns 1,415,789 shares of the industrial products company’s stock valued at $91,446,000 after buying an additional 304,738 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in shares of RBC Bearings by 9.1% during the 4th quarter. Nationwide Fund Advisors now owns 104,203 shares of the industrial products company’s stock valued at $6,730,000 after buying an additional 8,670 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of RBC Bearings by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 43,380 shares of the industrial products company’s stock valued at $2,802,000 after buying an additional 754 shares during the last quarter. Finally, Gofen & Glossberg LLC IL lifted its holdings in shares of RBC Bearings by 22.2% during the 4th quarter. Gofen & Glossberg LLC IL now owns 6,920 shares of the industrial products company’s stock valued at $447,000 after buying an additional 1,255 shares during the last quarter. 97.89% of the stock is currently owned by 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.