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Research analysts at The Goldman Sachs Group started coverage on shares of RBC Bearings (NASDAQ:ROLL) in a research note issued to investors on Monday, Briefing.com reports. The firm set a "neutral" rating and a $217.00 price target on the industrial products company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 8.33% from the stock's current price.
Other research analysts have also issued reports about the stock. Citigroup assumed coverage on shares of RBC Bearings in a research report on Wednesday, December 1st. They issued a "neutral" rating and a $220.00 target price for the company. They noted that the move was a valuation call. Truist upgraded shares of RBC Bearings from a "hold" rating to a "buy" rating and upped their target price for the stock from $225.00 to $250.00 in a research report on Thursday, September 23rd. Morgan Stanley assumed coverage on shares of RBC Bearings in a research report on Friday, December 3rd. They issued an "overweight" rating and a $263.00 target price for the company. Truist Securities upgraded shares of RBC Bearings from a "hold" rating to a "buy" rating and upped their target price for the stock from $225.00 to $250.00 in a research report on Thursday, September 23rd. Finally, Truist Financial upgraded shares of RBC Bearings to a "buy" rating and set a $250.00 target price for the company in a research report on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of "Hold" and an average price target of $237.29.
Shares of RBC Bearings stock opened at $200.31 on Monday. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 64.00 and a beta of 1.38. RBC Bearings has a one year low of $160.51 and a one year high of $250.52. The business has a 50-day simple moving average of $216.61 and a 200 day simple moving average of $214.24.
RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Friday, November 12th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.16). RBC Bearings had a return on equity of 6.61% and a net margin of 12.75%. The business had revenue of $160.90 million during the quarter, compared to analysts' expectations of $159.61 million. During the same quarter in the previous year, the firm earned $0.93 EPS. RBC Bearings's quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that RBC Bearings will post 4.01 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ROLL. Clearstead Advisors LLC increased its stake in shares of RBC Bearings by 588.9% during the third quarter. Clearstead Advisors LLC now owns 124 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $26,000. Vigilant Capital Management LLC bought a new position in shares of RBC Bearings during the third quarter valued at approximately $28,000. Eagle Bay Advisors LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of RBC Bearings during the second quarter valued at approximately $41,000. 98.72% of the stock is owned by institutional investors.
RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and products. It operates through the following segments: Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products. The Plain Bearings segment produces self-lubricating, metal-to-metal designs and other sub-classes, including rod end bearings, spherical plain bearings, and journal bearings.
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