RBC Bearings Inc. (NASDAQ:ROLL) was downgraded by analysts at Seaport Global Securities from an “accumulate” rating to a “neutral” rating in a report issued on Friday. They presently have a $73.00 target price on the stock. Seaport Global Securities’ target price indicates a potential upside of 3.58% from the company’s previous close.
Separately, Zacks Investment Research upgraded RBC Bearings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. RBC Bearings currently has an average rating of “Hold” and an average target price of $75.60.
RBC Bearings (NASDAQ:ROLL) opened at 70.48 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of 24.22 and a beta of 1.19. RBC Bearings has a 12 month low of $54.38 and a 12 month high of $87.82. The firm’s 50-day moving average is $76.11 and its 200-day moving average is $74.89.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $154.58 million for the quarter, compared to the consensus estimate of $152.83 million. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts anticipate that RBC Bearings will post $3.34 EPS for the current fiscal year.
In other news, insider Michael J. Hartnett sold 6,742 shares of RBC Bearings stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total transaction of $513,201.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ROLL. Victory Capital Management Inc. boosted its position in RBC Bearings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,448 shares of the company’s stock worth $105,000 after buying an additional 631 shares during the last quarter. Advisor Group Inc. bought a new position in RBC Bearings during the second quarter worth $116,000. BlackRock Inc. boosted its position in RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock worth $121,000 after buying an additional 869 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock worth $157,000 after buying an additional 1,020 shares during the last quarter. Finally, Checchi Capital Advisers LLC bought a new position in RBC Bearings during the second quarter worth $206,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.
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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