RBC Bearings (NASDAQ:ROLL) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities research analysts have also recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Thursday, September 27th. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of RBC Bearings in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. RBC Bearings presently has a consensus rating of “Hold” and a consensus price target of $143.50.
Shares of RBC Bearings stock traded down $3.03 on Thursday, hitting $160.10. 78,882 shares of the company traded hands, compared to its average volume of 135,805. The stock has a market cap of $3.99 billion, a P/E ratio of 41.37, a PEG ratio of 5.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.71 and a quick ratio of 2.12. RBC Bearings has a 52 week low of $111.61 and a 52 week high of $169.84.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Friday, November 2nd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $172.92 million for the quarter, compared to analysts’ expectations of $174.30 million. RBC Bearings had a net margin of 15.54% and a return on equity of 12.94%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. As a group, equities analysts expect that RBC Bearings will post 4.83 EPS for the current year.
In related news, Director Mitchell I. Quain sold 6,500 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $140.19, for a total value of $911,235.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Hartnett sold 31,523 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $153.61, for a total transaction of $4,842,248.03. The disclosure for this sale can be found here. Insiders sold 149,137 shares of company stock worth $22,660,927 in the last 90 days. 3.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors Inc. increased its position in RBC Bearings by 14.6% during the second quarter. Wasatch Advisors Inc. now owns 1,489,038 shares of the industrial products company’s stock valued at $191,803,000 after acquiring an additional 189,861 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of RBC Bearings by 16.9% during the second quarter. Janus Henderson Group PLC now owns 554,654 shares of the industrial products company’s stock valued at $71,445,000 after purchasing an additional 80,370 shares during the period. Wells Fargo & Company MN boosted its stake in shares of RBC Bearings by 12.2% during the third quarter. Wells Fargo & Company MN now owns 719,498 shares of the industrial products company’s stock valued at $108,184,000 after purchasing an additional 78,043 shares during the period. BlackRock Inc. boosted its stake in shares of RBC Bearings by 2.6% during the second quarter. BlackRock Inc. now owns 2,203,042 shares of the industrial products company’s stock valued at $283,774,000 after purchasing an additional 55,182 shares during the period. Finally, Standard Life Aberdeen plc boosted its stake in shares of RBC Bearings by 15.5% during the second quarter. Standard Life Aberdeen plc now owns 310,004 shares of the industrial products company’s stock valued at $39,932,000 after purchasing an additional 41,703 shares during the period. Institutional investors own 96.58% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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