RBC Bearings Incorporated (ROLL) Receives $141.00 Average PT from Analysts

Shares of RBC Bearings Incorporated (NASDAQ:ROLL) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $141.00.

ROLL has been the subject of several research reports. Zacks Investment Research downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. CL King initiated 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. ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Drexel Hamilton initiated 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.

In other news, insider Michael J. Hartnett sold 6,300 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $128.68, for a total value of $810,684.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Hartnett sold 1,687 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $128.28, for a total value of $216,408.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,387 shares of company stock valued at $2,172,787. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ROLL. UBS Asset Management Americas Inc. lifted its position in RBC Bearings by 33.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,930 shares of the industrial products company’s stock valued at $1,316,000 after acquiring an additional 3,243 shares in the last quarter. Northern Trust Corp lifted its position in RBC Bearings by 4.5% in the 2nd quarter. Northern Trust Corp now owns 310,213 shares of the industrial products company’s stock valued at $31,568,000 after acquiring an additional 13,296 shares in the last quarter. Vanguard Group Inc. lifted its position in RBC Bearings by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock valued at $184,960,000 after acquiring an additional 12,863 shares in the last quarter. California Public Employees Retirement System lifted its position in RBC Bearings by 4.9% in the 2nd quarter. California Public Employees Retirement System now owns 53,500 shares of the industrial products company’s stock valued at $5,444,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in RBC Bearings by 5.8% in the 2nd quarter. Voya Investment Management LLC now owns 11,147 shares of the industrial products company’s stock valued at $1,134,000 after acquiring an additional 616 shares in the last quarter. 98.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of RBC Bearings (NASDAQ ROLL) traded up $1.72 during trading on Wednesday, reaching $123.64. The company’s stock had a trading volume of 135,205 shares, compared to its average volume of 92,572. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.65 and a current ratio of 4.65. RBC Bearings has a 52-week low of $88.70 and a 52-week high of $139.95. The firm has a market cap of $2,993.68, a P/E ratio of 36.58, a P/E/G ratio of 5.37 and a beta of 1.29.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.19. RBC Bearings had a return on equity of 11.79% and a net margin of 12.52%. The firm had revenue of $166.86 million during the quarter, compared to the consensus estimate of $163.46 million. During the same period last year, the business posted $0.73 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. analysts forecast that RBC Bearings will post 3.91 earnings per share 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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