RBC Bearings Inc. (ROLL) Sets New 1-Year High at $83.40
RBC Bearings Inc. (NASDAQ:ROLL)’s share price hit a new 52-week high on Thursday . The stock traded as high as $83.40 and last traded at $77.90, with a volume of 83,800 shares changing hands. The stock had previously closed at $75.27.
ROLL has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Avondale Partners reissued a “buy” rating and set a $80.00 price objective on shares of RBC Bearings in a research report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.80.
The firm’s 50-day moving average is $74.35 and its 200 day moving average is $70.28. The firm has a market cap of $1.81 billion and a price-to-earnings ratio of 28.69.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by $0.01. The company had revenue of $154.58 million for the quarter, compared to the consensus estimate of $152.83 million. RBC Bearings’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. Equities analysts expect that RBC Bearings Inc. will post $3.38 earnings per share for the current year.
In related news, VP Thomas C. Crainer sold 25,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $75.50, for a total transaction of $1,887,500.00. Following the transaction, the vice president now owns 43,940 shares in the company, valued at $3,317,470. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 43,270 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $75.71, for a total transaction of $3,275,971.70. Following the transaction, the chief executive officer now owns 540,574 shares in the company, valued at approximately $40,926,857.54. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Eaton Vance Management boosted its position in shares of RBC Bearings by 6.6% in the fourth quarter. Eaton Vance Management now owns 332,623 shares of the company’s stock valued at $21,484,000 after buying an additional 20,658 shares in the last quarter. First Trust Advisors LP boosted its position in shares of RBC Bearings by 12.2% in the fourth quarter. First Trust Advisors LP now owns 23,976 shares of the company’s stock valued at $1,549,000 after buying an additional 2,607 shares in the last quarter. Rhumbline Advisers boosted its position in shares of RBC Bearings by 6.9% in the fourth quarter. Rhumbline Advisers now owns 28,394 shares of the company’s stock valued at $1,834,000 after buying an additional 1,845 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of RBC Bearings by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 45,927 shares of the company’s stock valued at $2,966,000 after buying an additional 1,373 shares in the last quarter.
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision components and bearings. The Company manufactures roller bearing components and assembled parts and designs and manufactures high-precision roller and ball bearings. The Company operates in four business segments: plain bearings, roller bearings, ball bearings and Other.
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