RBC Bearings (NASDAQ:ROLL) Raised to B- at TheStreet

TheStreet upgraded shares of RBC Bearings (NASDAQ:ROLLGet Rating) from a c+ rating to a b- rating in a report published on Monday morning, TheStreetRatingsTable reports.

ROLL has been the subject of a number of other research reports. Bank of America cut shares of RBC Bearings from a buy rating to a neutral rating and lowered their price objective for the stock from $218.00 to $193.00 in a research report on Thursday, June 23rd. Truist Financial lowered their target price on shares of RBC Bearings from $250.00 to $235.00 and set a buy rating on the stock in a report on Tuesday, July 19th. StockNews.com upgraded shares of RBC Bearings from a sell rating to a hold rating in a research report on Friday, May 27th. Finally, Royal Bank of Canada lowered shares of RBC Bearings from a buy rating to a neutral rating and cut their price objective for the company from $218.00 to $193.00 in a research report on Thursday, June 23rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $222.29.

RBC Bearings Trading Up 2.5 %

Shares of RBC Bearings stock opened at $248.59 on Monday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 124.30, a PEG ratio of 7.10 and a beta of 1.36. The business has a 50-day moving average price of $197.91 and a 200-day moving average price of $187.47. The company has a quick ratio of 1.42, a current ratio of 3.07 and a debt-to-equity ratio of 0.71. RBC Bearings has a twelve month low of $152.90 and a twelve month high of $250.21.

RBC Bearings (NASDAQ:ROLLGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.20. The company had revenue of $358.90 million during the quarter, compared to the consensus estimate of $349.91 million. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. RBC Bearings’s revenue for the quarter was up 123.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities research analysts anticipate that RBC Bearings will post 5.77 EPS for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, Director Alan B. Levine sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total transaction of $337,600.00. Following the completion of the transaction, the director now directly owns 20,027 shares in the company, valued at $4,225,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $199.07, for a total transaction of $1,990,700.00. Following the completion of the transaction, the vice president now owns 11,966 shares in the company, valued at $2,382,071.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan B. Levine sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $211.00, for a total transaction of $337,600.00. Following the completion of the sale, the director now directly owns 20,027 shares in the company, valued at $4,225,697. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $2,408,320. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of RBC Bearings by 1.6% during the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after purchasing an additional 33,956 shares during the period. Durable Capital Partners LP raised its holdings in RBC Bearings by 28.2% during the 1st quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock valued at $311,176,000 after buying an additional 353,074 shares during the period. Wasatch Advisors Inc. raised its holdings in RBC Bearings by 3.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock valued at $282,757,000 after buying an additional 49,064 shares during the period. JPMorgan Chase & Co. raised its holdings in RBC Bearings by 2.7% during the 1st quarter. JPMorgan Chase & Co. now owns 879,373 shares of the industrial products company’s stock valued at $170,493,000 after buying an additional 23,354 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in RBC Bearings by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 804,703 shares of the industrial products company’s stock valued at $156,016,000 after acquiring an additional 9,622 shares during the last quarter.

About RBC Bearings

(Get Rating)

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.

See Also

Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.