RBC Bearings (NASDAQ:ROLL) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of RBC Bearings (NASDAQ:ROLL) from a hold rating to a buy rating in a research note issued to investors on Monday, ValuEngine reports.

Separately, BidaskClub downgraded RBC Bearings from a buy rating to a hold rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $161.33.

Shares of RBC Bearings stock traded down $0.13 during midday trading on Monday, hitting $167.31. 55,900 shares of the company were exchanged, compared to its average volume of 102,855. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.14 and a quick ratio of 1.72. The firm has a market cap of $4.09 billion, a P/E ratio of 34.57, a PEG ratio of 5.31 and a beta of 1.19. RBC Bearings has a 52 week low of $123.50 and a 52 week high of $171.54. The firm has a 50 day simple moving average of $161.81 and a 200-day simple moving average of $155.80.

RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Friday, November 1st. The industrial products company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.08. The business had revenue of $181.91 million during the quarter, compared to the consensus estimate of $180.93 million. RBC Bearings had a return on equity of 12.61% and a net margin of 15.23%. RBC Bearings’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. Equities research analysts expect that RBC Bearings will post 5.24 earnings per share for the current year.

In other RBC Bearings news, VP Richard J. Edwards sold 3,711 shares of RBC Bearings stock in a transaction on Monday, August 19th. The stock was sold at an average price of $160.61, for a total value of $596,023.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 5,774 shares of RBC Bearings stock in a transaction on Friday, August 30th. The shares were sold at an average price of $160.03, for a total value of $924,013.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,056 shares of company stock valued at $13,833,677. Corporate insiders own 3.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in shares of RBC Bearings during the third quarter worth $31,000. Kavar Capital Partners LLC bought a new stake in shares of RBC Bearings during the second quarter worth $32,000. Quest Capital Management Inc. ADV bought a new stake in shares of RBC Bearings during the third quarter worth $52,000. Squar Milner Financial Services LLC raised its position in shares of RBC Bearings by 529.6% during the third quarter. Squar Milner Financial Services LLC now owns 447 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 376 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position in shares of RBC Bearings by 9.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 914 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.

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