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RBC Bearings Incorporated (NASDAQ:ROLL - Get Rating) VP Richard J. Edwards sold 10,000 shares of RBC Bearings stock in a transaction that occurred on Monday, June 6th. The stock was 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 of the company's stock, valued at approximately $2,382,071.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ROLL stock traded up $0.59 on Thursday, hitting $192.36. The company's stock had a trading volume of 122,024 shares, compared to its average volume of 150,738. The firm has a 50 day moving average of $176.60 and a two-hundred day moving average of $188.48. RBC Bearings Incorporated has a 1 year low of $152.90 and a 1 year high of $250.52. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 96.47 and a beta of 1.35. The company has a current ratio of 3.07, a quick ratio of 1.42 and a debt-to-equity ratio of 0.71.
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RBC Bearings (NASDAQ:ROLL - Get Rating) last released its quarterly earnings results on Thursday, May 26th. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.07 by $0.19. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. The firm had revenue of $358.90 million during the quarter, compared to the consensus estimate of $349.91 million. During the same quarter in the prior year, the firm earned $1.08 EPS. RBC Bearings's revenue for the quarter was up 123.9% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings Incorporated will post 6.02 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in RBC Bearings by 1.6% in the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company's stock valued at $415,937,000 after buying an additional 33,956 shares during the period. Durable Capital Partners LP increased its stake in RBC Bearings by 28.2% in 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. increased its stake in RBC Bearings by 3.5% in 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. increased its stake in RBC Bearings by 2.7% in 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 increased its stake 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 buying an additional 9,622 shares during the period.
Several analysts have recently weighed in on ROLL shares. StockNews.com upgraded shares of RBC Bearings from a "sell" rating to a "hold" rating in a research report on Friday, May 27th. Zacks Investment Research upgraded shares of RBC Bearings from a "hold" rating to a "buy" rating and set a $186.00 price objective for the company in a research report on Monday, February 14th. Bank of America started coverage on shares of RBC Bearings in a research report on Thursday, February 17th. They set a "buy" rating for the company. Wells Fargo & Company started coverage on shares of RBC Bearings in a research report on Friday, March 11th. They set an "overweight" rating and a $235.00 price objective for the company. Finally, Royal Bank of Canada started coverage on shares of RBC Bearings in a research report on Thursday, February 17th. They set a "buy" rating and a $218.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of "Buy" and a consensus target price of $227.00.
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.
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