Bank Of America (Bofa) lowered shares of RBC Bearings (NASDAQ:ROLL – Get Rating) from a neutral rating to an underperform rating in a research report released on Wednesday, The Fly reports.
A number of other analysts have also commented on ROLL. StockNews.com upgraded shares of RBC Bearings from a sell rating to a hold rating in a research note on Friday, May 27th. Truist Financial decreased their price target on shares of RBC Bearings from $250.00 to $235.00 and set a buy rating for the company in a research note on Tuesday, July 19th. Royal Bank of Canada lowered shares of RBC Bearings from a buy rating to a neutral rating and decreased their price target for the company from $218.00 to $193.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. TheStreet upgraded shares of RBC Bearings from a c+ rating to a b- rating in a research note on Monday, August 1st. Finally, Morgan Stanley boosted their price target on shares of RBC Bearings from $263.00 to $285.00 and gave the company an overweight rating in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $235.71.
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RBC Bearings Stock Performance
NASDAQ:ROLL opened at $229.01 on Wednesday. The company has a fifty day moving average of $235.20 and a 200-day moving average of $200.91. The firm has a market capitalization of $6.63 billion, a P/E ratio of 111.17, a P/E/G ratio of 6.34 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 2.77 and a debt-to-equity ratio of 0.65. RBC Bearings has a twelve month low of $152.90 and a twelve month high of $264.94.
RBC Bearings (NASDAQ:ROLL – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.39. The company had revenue of $354.08 million during the quarter, compared to analyst estimates of $362.13 million. RBC Bearings had a net
margin of 6.21% and a return on equity of 6.08%. RBC Bearings's revenue for the quarter was up 126.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. As a group, sell-side analysts anticipate that RBC Bearings will post 6.89 EPS for the current year.
Insider Buying and Selling
In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $200.05, for a total value of $80,020.00. Following the transaction, the director now directly owns 7,500 shares of the company's stock, valued at approximately $1,500,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $200.05, for a total value of $80,020.00. Following the transaction, the director now directly owns 7,500 shares of the company's stock, valued at approximately $1,500,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel A. Bergeron sold 21,165 shares of the business's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $259.60, for a total transaction of $5,494,434.00. Following the completion of the transaction, the chief operating officer now directly owns 103,718 shares in the company, valued at $26,925,192.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,125 shares of company stock valued at $16,230,063. 2.80% of the stock is owned by insiders.
Hedge Funds Weigh In On RBC Bearings
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. abrdn plc lifted its holdings in RBC Bearings by 28.4% during the fourth quarter. abrdn plc now owns 253,931 shares of the industrial products company's stock valued at $51,287,000 after purchasing an additional 56,177 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new stake in RBC Bearings during the fourth quarter valued at about $584,000. HighTower Advisors LLC lifted its holdings in RBC Bearings by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 7,419 shares of the industrial products company's stock valued at $1,503,000 after purchasing an additional 98 shares during the last quarter. Aviva PLC lifted its holdings in RBC Bearings by 60.0% during the fourth quarter. Aviva PLC now owns 11,970 shares of the industrial products company's stock valued at $2,418,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in RBC Bearings by 36.9% during the fourth quarter. Teacher Retirement System of Texas now owns 5,568 shares of the industrial products company's stock valued at $1,125,000 after purchasing an additional 1,500 shares during the last quarter.
About RBC Bearings
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RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.
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