RBC Bearings Inc. (ROLL) Rating Lowered to Neutral at Seaport Global Securities
RBC Bearings Inc. (NASDAQ:ROLL) was downgraded by research analysts at Seaport Global Securities from an “accumulate” rating to a “neutral” rating in a report released on Friday. They currently have a $73.00 target price on the stock. Seaport Global Securities’ price objective would indicate a potential upside of 2.40% from the stock’s previous close.
Separately, Zacks Investment Research cut RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.60.
Shares of RBC Bearings (NASDAQ:ROLL) traded down 0.69% on Friday, hitting $70.80. 79,933 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $76.34 and its 200 day moving average price is $74.89. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 24.33 and a beta of 1.19. RBC Bearings has a 1-year low of $54.38 and a 1-year high of $87.82.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (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 business earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that RBC Bearings will post $3.34 earnings per share for the current year.
In other news, insider Michael J. Hartnett sold 6,742 shares of the business’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total transaction of $513,201.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of ROLL. Eagle Asset Management Inc. raised its position in RBC Bearings by 1.8% in the third quarter. Eagle Asset Management Inc. now owns 36,956 shares of the company’s stock valued at $2,826,000 after buying an additional 669 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $157,000 after buying an additional 1,020 shares during the last quarter. Royal Bank of Canada raised its position in RBC Bearings by 2.2% in the second quarter. Royal Bank of Canada now owns 315,464 shares of the company’s stock valued at $22,871,000 after buying an additional 6,787 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in RBC Bearings by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,189 shares of the company’s stock valued at $7,337,000 after buying an additional 4,316 shares during the last quarter. Finally, Stifel Financial Corp raised its position in RBC Bearings by 7.7% in the second quarter. Stifel Financial Corp now owns 35,407 shares of the company’s stock valued at $2,568,000 after buying an additional 2,519 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.
RBC Bearings Company Profile
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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