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RBC Bearings (NASDAQ:ROLL - Get Rating) announced its quarterly earnings results on Thursday. The industrial products company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.39, Briefing.com reports. The company had revenue of $354.08 million for the quarter, compared to analyst estimates of $362.13 million. RBC Bearings had a net margin of 6.21% and a return on equity of 6.11%. RBC Bearings's revenue for the quarter was up 126.7% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. RBC Bearings updated its Q2 2023 guidance to EPS and its Q2 2023 guidance to EPS.RBC Bearings Stock Up 4.2 %
Shares of ROLL traded up $9.83 during midday trading on Friday, hitting $241.74. The company had a trading volume of 126,411 shares, compared to its average volume of 167,217. The company's 50 day moving average price is $200.28 and its 200 day moving average price is $187.94. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 117.35, a PEG ratio of 6.85 and a beta of 1.36. RBC Bearings has a 52 week low of $152.90 and a 52 week high of $250.21. The company has a quick ratio of 1.42, a current ratio of 3.07 and a debt-to-equity ratio of 0.71. Insider Transactions at RBC Bearings
In other news, Director Alan B. Levine sold 1,600 shares of the business's stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $211.00, for a total value of $337,600.00. Following the completion of the sale, the director now owns 20,027 shares of the company's stock, valued at approximately $4,225,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven H. Kaplan sold 400 shares of RBC Bearings stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $200.05, for a total value of $80,020.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company's stock, valued at approximately $1,500,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan B. Levine sold 1,600 shares of RBC Bearings stock in a transaction dated 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 transaction, the director now directly owns 20,027 shares of the company's stock, valued at $4,225,697. 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. Insiders own 2.70% of the company's stock. Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its stake in RBC Bearings by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,456 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 108 shares during the period. KB Financial Partners LLC boosted its stake in RBC Bearings by 20.4% during the 1st quarter. KB Financial Partners LLC now owns 1,503 shares of the industrial products company's stock valued at $291,000 after purchasing an additional 255 shares during the period. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the 1st quarter valued at about $53,000. Captrust Financial Advisors boosted its stake in RBC Bearings by 8.6% during the 1st quarter. Captrust Financial Advisors now owns 3,631 shares of the industrial products company's stock valued at $704,000 after purchasing an additional 287 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in RBC Bearings during the 1st quarter valued at about $59,000. Analyst Ratings Changes
A number of brokerages have weighed in on ROLL. TheStreet upgraded shares of RBC Bearings from a "c+" rating to a "b-" rating in a report on Monday, August 1st. StockNews.com raised shares of RBC Bearings from a "sell" rating to a "hold" rating in a research note on Friday, May 27th. Royal Bank of Canada downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and cut their target price for the company from $218.00 to $193.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Truist Financial cut their target price on shares of RBC Bearings from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, July 19th. Finally, Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and cut their target price for the company from $218.00 to $193.00 in a research note on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has an average rating of "Hold" and a consensus target price of $222.29.RBC Bearings Company Profile (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 AlsoGet a free copy of the StockNews.com research report on RBC Bearings (ROLL)MarketBeat: Week in Review 8/1 - 8/5How to Use High Beta Stocks to Maximize Your Investing ProfitsCronos Group Inc's Revenues Are Up, Is It Time to Buy?Beyond Meat Is Not Beyond Hope, And It's CheapWhy Apple Could Be At All-Time Highs By Year End
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