Analysts Set RBC Bearings Inc. (NASDAQ:ROLL) Price Target at $73.67
Shares of RBC Bearings Inc. (NASDAQ:ROLL) have been given an average rating of “Hold” by the five analysts that are currently covering the stock. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $73.67.
Separately, Zacks Investment Research lowered shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, August 26th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of RBC Bearings during the fourth quarter worth about $9,852,000. Henderson Group PLC raised its position in shares of RBC Bearings by 57.5% in the second quarter. Henderson Group PLC now owns 360,859 shares of the company’s stock worth $26,162,000 after buying an additional 131,804 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of RBC Bearings by 22.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 472,666 shares of the company’s stock worth $34,268,000 after buying an additional 85,697 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of RBC Bearings by 9.5% in the first quarter. TimesSquare Capital Management LLC now owns 864,328 shares of the company’s stock worth $63,321,000 after buying an additional 75,250 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of RBC Bearings by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 882,792 shares of the company’s stock worth $64,003,000 after buying an additional 60,810 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.
Shares of RBC Bearings (NASDAQ:ROLL) opened at 76.48 on Monday. The stock’s 50 day moving average price is $77.07 and its 200-day moving average price is $74.66. The firm has a market cap of $1.78 billion, a P/E ratio of 26.28 and a beta of 1.11. RBC Bearings has a 12 month low of $54.38 and a 12 month high of $87.82.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The company earned $154.58 million during the quarter, compared to analyst estimates of $152.83 million. During the same quarter last year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that RBC Bearings will post $3.34 earnings per share for the current fiscal year.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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