Seaport Global Securities lowered shares of RBC Bearings Inc. (NASDAQ:ROLL) from an accumulate rating to a neutral rating in a report published on Friday morning. The brokerage currently has $73.00 target price on the stock.
Separately, Zacks Investment Research raised RBC Bearings from a sell rating to a hold rating in a research report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $75.60.
Shares of RBC Bearings (NASDAQ:ROLL) opened at 71.39 on Friday. RBC Bearings has a one year low of $54.38 and a one year high of $87.82. The stock has a market capitalization of $1.66 billion, a P/E ratio of 24.53 and a beta of 1.19. The stock has a 50 day moving average of $75.91 and a 200-day moving average of $74.87.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by $0.01. The company earned $154.58 million during the quarter, compared to analysts’ expectations of $152.83 million. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. RBC Bearings’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. Equities analysts forecast that RBC Bearings will post $3.34 earnings per share for the current year.
In related 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 value of $513,201.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC purchased a new stake in RBC Bearings during the second quarter worth about $206,000. Eagle Asset Management Inc. increased its stake in RBC Bearings by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 36,287 shares of the company’s stock worth $2,630,000 after buying an additional 4,073 shares in the last quarter. GW&K Investment Management LLC increased its stake in RBC Bearings by 2.2% in the second quarter. GW&K Investment Management LLC now owns 524,157 shares of the company’s stock worth $38,001,000 after buying an additional 11,278 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in RBC Bearings by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,490 shares of the company’s stock worth $2,014,000 after buying an additional 497 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in RBC Bearings by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 741,550 shares of the company’s stock worth $54,325,000 after buying an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.
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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