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RBC Bearings Incorporated (NASDAQ:ROLL - Get Rating) has been assigned an average recommendation of "Hold" from the nine analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $229.71.
A number of research analysts have weighed in on ROLL shares. 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 note on Thursday, June 23rd. Truist Financial lowered their price target on shares of RBC Bearings from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, July 19th. Morgan Stanley boosted their price target on shares of RBC Bearings from $263.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, August 9th. Citigroup upped their target price on shares of RBC Bearings from $200.00 to $250.00 in a report on Tuesday, August 9th. Finally, Royal Bank of Canada lowered shares of RBC Bearings from a "buy" rating to a "neutral" rating and decreased 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.Insiders Place Their Bets
In related news, CEO Michael J. Hartnett sold 100 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $260.00, for a total value of $26,000.00. Following the completion of the transaction, the chief executive officer now directly owns 294,277 shares in the company, valued at approximately $76,512,020. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael J. Hartnett sold 100 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $260.00, for a total value of $26,000.00. Following the completion of the transaction, the chief executive officer now directly owns 294,277 shares in the company, valued at approximately $76,512,020. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the stock in a transaction dated 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 owns 7,500 shares of the company's stock, valued at $1,500,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,625 shares of company stock worth $16,101,758. 2.80% of the stock is currently owned by corporate insiders. Institutional Trading of RBC Bearings
A number of institutional investors have recently made changes to their positions in ROLL. Price T Rowe Associates Inc. MD lifted its holdings in RBC Bearings by 21.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,580,868 shares of the industrial products company's stock valued at $477,332,000 after purchasing an additional 463,801 shares in the last quarter. BlackRock Inc. lifted its holdings in RBC Bearings by 1.6% during the first quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company's stock valued at $415,937,000 after purchasing an additional 33,956 shares in the last quarter. Durable Capital Partners LP lifted its holdings in RBC Bearings by 28.2% during the first quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company's stock valued at $311,176,000 after purchasing an additional 353,074 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in RBC Bearings by 3.5% during the first quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company's stock valued at $282,757,000 after purchasing an additional 49,064 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in RBC Bearings by 2.7% during the first quarter. JPMorgan Chase & Co. now owns 879,373 shares of the industrial products company's stock valued at $170,493,000 after purchasing an additional 23,354 shares in the last quarter. RBC Bearings Trading Up 2.7 %
ROLL opened at $247.64 on Thursday. RBC Bearings has a 1-year low of $152.90 and a 1-year high of $264.94. The company has a current ratio of 2.77, a quick ratio of 1.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $7.16 billion, a P/E ratio of 120.21, a price-to-earnings-growth ratio of 5.85 and a beta of 1.34. The company has a fifty day moving average price of $229.22 and a two-hundred day moving average price of $198.70.
RBC Bearings (NASDAQ:ROLL - Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.39. The firm had revenue of $354.08 million during the quarter, compared to analysts' expectations of $362.13 million. RBC Bearings had a net margin of 6.21% and a return on equity of 6.08%. The business's revenue was up 126.7% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. Analysts predict that RBC Bearings will post 6.89 EPS for the current fiscal year. 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.See AlsoGet a free copy of the StockNews.com research report on RBC Bearings (ROLL)3 High Margin Chipmakers Bound to Recover3 Solar Stocks That Will Benefit From the Biden Tariff Holiday REV Group Has A Deep Moat In The World Of EVs Is G-III Apparel Group, Ltd. A Value Trap? Bank Of America Sees Upside In These 2 European Alcohol Stocks
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