Posted by admin on Jun 9th, 2022
RBC Bearings Incorporated (NASDAQ:ROLL – Get Rating) VP Richard J. Edwards sold 10,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were 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 in the company, valued at $2,382,071.62. The transaction was disclosed in a filing with the SEC, which is available at this link.
ROLL traded up $0.59 on Thursday, reaching $192.36. 122,024 shares of the company’s stock were exchanged, compared to its average volume of 150,738. The company’s 50 day moving average is $176.60 and its 200-day moving average is $188.48. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 96.47 and a beta of 1.35. RBC Bearings Incorporated has a twelve month low of $152.90 and a twelve month high of $250.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.42 and a current ratio of 3.07.
RBC Bearings (NASDAQ:ROLL – Get Rating) last posted its earnings results on Thursday, May 26th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.19. The firm had revenue of $358.90 million during the quarter, compared to the consensus estimate of $349.91 million. RBC Bearings had a net margin of 6.30% and a return on equity of 5.40%. The company’s revenue was up 123.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts forecast that RBC Bearings Incorporated will post 6.02 EPS for the current year.
A number of large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in RBC Bearings by 5.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 158,498 shares of the industrial products company’s stock valued at $30,730,000 after acquiring an additional 7,479 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the first quarter valued at approximately $53,000. KB Financial Partners LLC grew its position in RBC Bearings by 20.4% in the first quarter. KB Financial Partners LLC now owns 1,503 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 255 shares in the last quarter. Royal Bank of Canada grew its position in RBC Bearings by 6.5% in the first quarter. Royal Bank of Canada now owns 239,152 shares of the industrial products company’s stock valued at $46,367,000 after acquiring an additional 14,584 shares in the last quarter. Finally, Snyder Capital Management L P grew its position in RBC Bearings by 0.3% in the first quarter. Snyder Capital Management L P now owns 453,184 shares of the industrial products company’s stock valued at $87,863,000 after acquiring an additional 1,299 shares in the last quarter.
A number of research analysts have issued reports on the stock. Bank of America started coverage on shares of RBC Bearings in a report on Thursday, February 17th. They issued a “buy” rating on the stock. Royal Bank of Canada started coverage on shares of RBC Bearings in a report on Thursday, February 17th. They set a “buy” rating and a $218.00 price objective on the stock. Wells Fargo & Company started coverage on shares of RBC Bearings in a report on Friday, March 11th. They set an “overweight” rating and a $235.00 price objective on the stock. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a report on Monday, February 14th. Finally, StockNews.com upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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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