RBC Bearings (NASDAQ:ROLL) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of RBC Bearings (NASDAQ:ROLL) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday, June 26th, BidAskClub reports.

ROLL has been the subject of a number of other reports. ValuEngine downgraded shares of China Southern Airlines from a hold rating to a sell rating in a research report on Monday, April 29th. William Blair reissued a buy rating on shares of Dynavax Technologies in a research note on Friday, May 24th. Zacks Investment Research raised shares of Green Brick Partners from a sell rating to a hold rating in a research note on Wednesday, April 10th. Finally, SunTrust Banks boosted their target price on shares of Copart to $78.00 and gave the stock a buy rating in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $161.33.

ROLL stock traded up $1.31 during trading hours on Wednesday, reaching $161.83. 63,696 shares of the stock were exchanged, compared to its average volume of 110,691. The company has a market cap of $4.08 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 5.27 and a beta of 1.30. The firm’s 50-day simple moving average is $157.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 5.58. RBC Bearings has a 12 month low of $123.50 and a 12 month high of $171.54.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Thursday, May 23rd. The industrial products company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. The business had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $180.76 million. During the same quarter last year, the company posted $1.08 earnings per share. RBC Bearings’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts expect that RBC Bearings will post 5.31 earnings per share for the current year.

In related news, VP Patrick S. Bannon sold 1,693 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $248,871.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan B. Levine sold 500 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $151.65, for a total transaction of $75,825.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,300 shares of company stock worth $3,300,870. 3.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ROLL. Comerica Bank raised its holdings in shares of RBC Bearings by 6.9% during the 4th quarter. Comerica Bank now owns 1,894 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 123 shares during the period. Virginia Retirement Systems ET AL raised its holdings in RBC Bearings by 1.6% in the 4th quarter. Virginia Retirement Systems ET AL now owns 6,500 shares of the industrial products company’s stock valued at $852,000 after buying an additional 100 shares during the period. Prudential Financial Inc. raised its holdings in RBC Bearings by 19.8% in the 4th quarter. Prudential Financial Inc. now owns 3,233 shares of the industrial products company’s stock valued at $424,000 after buying an additional 535 shares during the period. LPL Financial LLC purchased a new stake in RBC Bearings in the 4th quarter valued at about $232,000. Finally, New York State Common Retirement Fund raised its holdings in RBC Bearings by 13.7% in the 4th quarter. New York State Common Retirement Fund now owns 41,584 shares of the industrial products company’s stock valued at $5,452,000 after buying an additional 5,023 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

RBC Bearings Company Profile

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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Analyst Recommendations for RBC Bearings (NASDAQ:ROLL)

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