RBC Bearings Incorporated (ROLL) Short Interest Down 51.8% in December

RBC Bearings Incorporated (NASDAQ:ROLL) was the recipient of a large drop in short interest during the month of December. As of December 29th, there was short interest totalling 242,181 shares, a drop of 51.8% from the December 15th total of 502,618 shares. Based on an average daily trading volume, of 69,877 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.0% of the company’s shares are sold short.

In other news, VP Thomas C. Crainer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hartnett sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were 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. Over the last quarter, insiders sold 37,487 shares of company stock worth $4,632,657. Corporate insiders own 3.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. Wasatch Advisors Inc. raised its stake in RBC Bearings by 15.9% during the third quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock valued at $124,563,000 after buying an additional 136,604 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in RBC Bearings by 44.7% during the third quarter. Great West Life Assurance Co. Can now owns 3,002 shares of the industrial products company’s stock valued at $373,000 after buying an additional 928 shares during the last quarter. Davis R M Inc. raised its stake in RBC Bearings by 39.7% during the third quarter. Davis R M Inc. now owns 41,930 shares of the industrial products company’s stock valued at $5,248,000 after buying an additional 11,915 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in RBC Bearings by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 288,730 shares of the industrial products company’s stock valued at $29,381,000 after buying an additional 1,116 shares during the last quarter. Finally, Royce & Associates LP raised its stake in RBC Bearings by 0.9% during the third quarter. Royce & Associates LP now owns 489,177 shares of the industrial products company’s stock valued at $61,221,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.

A number of research firms have recently commented on ROLL. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Drexel Hamilton began coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price for the company. BidaskClub cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, CL King began coverage on RBC Bearings in a research note on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $140.75.

RBC Bearings (ROLL) opened at $130.70 on Friday. The stock has a market capitalization of $3,145.57, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 6.09 and a beta of 1.35. RBC Bearings has a one year low of $87.61 and a one year high of $139.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68.

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

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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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