RBC Bearings Incorporated (NASDAQ:ROLL) Receives $162.67 Average Price Target from Brokerages

Shares of RBC Bearings Incorporated (NASDAQ:ROLL) have received an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $162.67.

ROLL has been the subject of several research analyst reports. SunTrust Banks upped their price objective on RBC Bearings to in a report on Wednesday, February 5th. Alembic Global Advisors downgraded RBC Bearings from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Royal Bank of Canada downgraded RBC Bearings from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. BidaskClub downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, March 10th. Finally, Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating and set a $183.00 target price for the company in a report on Friday, December 13th.

In related news, VP Richard J. Edwards sold 1,102 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $180.64, for a total transaction of $199,065.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Sullivan sold 1,800 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $181.00, for a total value of $325,800.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. increased its position in RBC Bearings by 1.1% in the 4th quarter. First Republic Investment Management Inc. now owns 6,232 shares of the industrial products company’s stock worth $987,000 after purchasing an additional 70 shares during the last quarter. Intrust Bank NA increased its position in RBC Bearings by 4.4% in the 4th quarter. Intrust Bank NA now owns 1,830 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 77 shares during the last quarter. Victory Capital Management Inc. increased its position in RBC Bearings by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 3,473 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 78 shares during the last quarter. Comerica Bank increased its position in RBC Bearings by 0.6% in the 4th quarter. Comerica Bank now owns 15,569 shares of the industrial products company’s stock worth $2,537,000 after purchasing an additional 89 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in RBC Bearings by 0.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,656 shares of the industrial products company’s stock worth $3,746,000 after purchasing an additional 95 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

ROLL stock traded up $0.22 during trading on Tuesday, reaching $117.85. 283,300 shares of the company’s stock were exchanged, compared to its average volume of 136,342. The company has a quick ratio of 1.95, a current ratio of 5.60 and a debt-to-equity ratio of 0.04. RBC Bearings has a 1-year low of $77.63 and a 1-year high of $185.05. The company’s fifty day moving average price is $137.33 and its 200-day moving average price is $157.68. The firm has a market cap of $2.81 billion, a PE ratio of 23.66 and a beta of 1.30.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.02). The firm had revenue of $177.00 million during the quarter, compared to analyst estimates of $178.85 million. RBC Bearings had a net margin of 17.09% and a return on equity of 12.35%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. As a group, sell-side analysts expect that RBC Bearings will post 5.09 earnings per share for the current fiscal year.

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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Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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