Posted by admin on Aug 4th, 2022

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

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

Shares of ROLL opened at $248.59 on Monday. The company has a 50-day simple moving average of $197.91 and a 200-day simple moving average of $187.47. The firm has a market capitalization of $7.18 billion, a P/E ratio of 124.30, a P/E/G ratio of 7.10 and a beta of 1.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.42 and a current ratio of 3.07. RBC Bearings has a 52 week low of $152.90 and a 52 week high of $250.21.

RBC Bearings (NASDAQ:ROLL – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.20. The firm had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $349.91 million. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. The company’s quarterly revenue was up 123.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, equities research analysts expect that RBC Bearings will post 5.77 earnings per share for the current year.

In other RBC Bearings news, VP Richard J. Edwards sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $199.07, for a total value of $1,990,700.00. Following the completion of the transaction, the vice president now directly owns 11,966 shares in the company, valued at approximately $2,382,071.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RBC Bearings news, Director Alan B. Levine sold 1,600 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $211.00, for a total value of $337,600.00. Following the transaction, the director now owns 20,027 shares of the company’s stock, valued at approximately $4,225,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $199.07, for a total value of $1,990,700.00. Following the transaction, the vice president now directly owns 11,966 shares in the company, valued at approximately $2,382,071.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock valued at $2,408,320. 2.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ROLL. Envestnet Asset Management Inc. raised its stake in shares of RBC Bearings by 2.0% in the second quarter. Envestnet Asset Management Inc. now owns 115,468 shares of the industrial products company’s stock worth $21,356,000 after purchasing an additional 2,218 shares during the last quarter. Nisa Investment Advisors LLC raised its position in RBC Bearings by 191.0% during the second quarter. Nisa Investment Advisors LLC now owns 582 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 382 shares in the last quarter. Assetmark Inc. raised its position in RBC Bearings by 58.6% during the second quarter. Assetmark Inc. now owns 555 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 205 shares in the last quarter. Lisanti Capital Growth LLC raised its position in RBC Bearings by 14.2% during the second quarter. Lisanti Capital Growth LLC now owns 56,400 shares of the industrial products company’s stock valued at $10,431,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Papp L Roy & Associates raised its position in RBC Bearings by 11.4% during the second quarter. Papp L Roy & Associates now owns 13,394 shares of the industrial products company’s stock valued at $2,477,000 after acquiring an additional 1,366 shares in the last quarter.

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.

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