Posted by admin on Aug 8th, 2022

RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) – Stock analysts at KeyCorp issued their Q1 2024 earnings per share estimates for RBC Bearings in a research note issued on Thursday, August 4th. KeyCorp analyst S. Barger expects that the industrial products company will post earnings of $1.97 per share for the quarter. The consensus estimate for RBC Bearings’ current full-year earnings is $5.77 per share. KeyCorp also issued estimates for RBC Bearings’ Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.08 EPS and Q4 2024 earnings at $2.38 EPS.

Several other analysts have also weighed in on the company. Royal Bank of Canada lowered RBC Bearings from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. Truist Financial lowered their price objective on RBC Bearings from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. TheStreet raised RBC Bearings from a “c+” rating to a “b-” rating in a report on Monday, August 1st. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $218.00 to $193.00 in a report on Thursday, June 23rd. Finally, StockNews.com raised RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $222.29.

Shares of NASDAQ ROLL opened at $241.74 on Monday. RBC Bearings has a 1 year low of $152.90 and a 1 year high of $250.21. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 117.35, a PEG ratio of 7.14 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. The stock’s 50-day simple moving average is $200.28 and its 200-day simple moving average is $187.85.

RBC Bearings (NASDAQ:ROLL – Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.39. RBC Bearings had a return on equity of 6.11% and a net margin of 6.21%. The business had revenue of $354.08 million for the quarter, compared to analyst estimates of $362.13 million. During the same period in the previous year, the company earned $1.04 earnings per share. The company’s revenue for the quarter was up 126.7% compared to the same quarter last year.

In other news, Director Steven H. Kaplan sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total transaction of $80,020.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $1,500,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alan B. Levine sold 1,600 shares of the business’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link. Also, Director Steven H. Kaplan sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $200.05, for a total value of $80,020.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at $1,500,375. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock worth $2,408,320. Company insiders own 2.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ROLL. Durable Capital Partners LP lifted its position in RBC Bearings by 28.2% in the first quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock worth $311,176,000 after purchasing an additional 353,074 shares during the period. Champlain Investment Partners LLC acquired a new stake in RBC Bearings in the fourth quarter worth approximately $40,676,000. abrdn plc lifted its position in RBC Bearings by 28.4% in the fourth quarter. abrdn plc now owns 253,931 shares of the industrial products company’s stock worth $51,287,000 after purchasing an additional 56,177 shares during the period. Wasatch Advisors Inc. lifted its position in RBC Bearings by 3.5% in the first quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock worth $282,757,000 after purchasing an additional 49,064 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in RBC Bearings by 29.3% in the first quarter. TimesSquare Capital Management LLC now owns 213,190 shares of the industrial products company’s stock worth $41,333,000 after purchasing an additional 48,355 shares during the period.

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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