RBC Bearings Incorporated (NASDAQ:ROLL) – Equities researchers at Seaport Global Securities dropped their Q3 2020 earnings per share estimates for RBC Bearings in a research report issued to clients and investors on Friday, December 6th. Seaport Global Securities analyst J. Sullivan now forecasts that the industrial products company will earn $1.23 per share for the quarter, down from their prior estimate of $1.32. Seaport Global Securities also issued estimates for RBC Bearings’ Q4 2020 earnings at $1.44 EPS, FY2020 earnings at $5.20 EPS, Q1 2021 earnings at $1.35 EPS, Q2 2021 earnings at $1.39 EPS, Q3 2021 earnings at $1.42 EPS, Q4 2021 earnings at $1.46 EPS and FY2021 earnings at $5.62 EPS.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $181.91 million for the quarter, compared to analyst estimates of $180.93 million. RBC Bearings had a net margin of 15.23% and a return on equity of 12.61%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share.
Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Bank of America downgraded shares of RBC Bearings from a “neutral” rating to an “underperform” rating and set a $165.00 target price on the stock. in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $151.00.
Shares of ROLL opened at $162.86 on Monday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 5.41 and a beta of 1.18. RBC Bearings has a 1-year low of $123.50 and a 1-year high of $171.54. The company’s fifty day simple moving average is $163.18 and its 200 day simple moving average is $160.00. The company has a current ratio of 5.14, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.
In other RBC Bearings news, Director Steven H. Kaplan sold 200 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $163.88, for a total value of $32,776.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 2,789 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $160.00, for a total transaction of $446,240.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,239 shares of company stock worth $682,766. 3.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in shares of RBC Bearings in the third quarter valued at $31,000. Kavar Capital Partners LLC acquired a new position in shares of RBC Bearings in the second quarter valued at $32,000. Quest Capital Management Inc. ADV acquired a new position in shares of RBC Bearings in the third quarter valued at $52,000. Squar Milner Financial Services LLC increased its holdings in shares of RBC Bearings by 529.6% in the third quarter. Squar Milner Financial Services LLC now owns 447 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 376 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of RBC Bearings by 27.0% in the second quarter. Parallel Advisors LLC now owns 1,204 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
RBC Bearings Company Profile
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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