Bank of America Corporation Raises RBC Bearings Incorporated (ROLL) Price Target to $140.00

RBC Bearings Incorporated (NASDAQ:ROLL) had its price objective increased by Bank of America Corporation from $120.00 to $140.00 in a report published on Wednesday morning. Bank of America Corporation currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of RBC Bearings from a buy rating to a hold rating in a research note on Monday, September 25th. BidaskClub cut shares of RBC Bearings from a hold rating to a sell rating in a research note on Friday, July 28th.

Shares of RBC Bearings (NASDAQ:ROLL) traded up $0.72 during trading on Wednesday, hitting $122.67. 70,600 shares of the stock traded hands, compared to its average volume of 87,861. The stock has a market cap of $2,990.00, a PE ratio of 36.19, a PEG ratio of 5.72 and a beta of 1.34. RBC Bearings has a 1-year low of $78.88 and a 1-year high of $135.54. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26.

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 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 business had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $164.56 million. During the same quarter in the prior year, the business earned $0.78 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. equities research analysts expect that RBC Bearings will post 3.63 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in ROLL. Teachers Advisors LLC lifted its stake in shares of RBC Bearings by 2.0% during the 1st quarter. Teachers Advisors LLC now owns 44,429 shares of the industrial products company’s stock valued at $4,314,000 after buying an additional 877 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RBC Bearings by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock valued at $175,223,000 after buying an additional 96,915 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RBC Bearings by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 194,578 shares of the industrial products company’s stock valued at $18,891,000 after buying an additional 13,131 shares in the last quarter. BlackRock Inc. lifted its stake in shares of RBC Bearings by 90,578.3% during the 1st quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock valued at $174,231,000 after buying an additional 1,792,544 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of RBC Bearings by 6.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 122,207 shares of the industrial products company’s stock valued at $11,866,000 after buying an additional 7,412 shares in the last quarter. Institutional investors own 99.96% of the company’s stock.

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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