RBC Bearings Inc. (ROLL) Sees Large Volume Increase
RBC Bearings Inc. (NASDAQ:ROLL) saw an uptick in trading volume on Tuesday . 123,955 shares traded hands during mid-day trading, an increase of 17% from the previous session’s volume of 105,808 shares.The stock last traded at $79.10 and had previously closed at $78.63.
Several research firms have recently commented on ROLL. Zacks Investment Research lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. Avondale Partners restated a “buy” rating and issued a $80.00 price objective on shares of RBC Bearings in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $74.80.
The firm has a 50-day moving average of $77.07 and a 200 day moving average of $72.93. The stock has a market capitalization of $1.85 billion and a P/E ratio of 27.29.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $154.58 million for the quarter, compared to the consensus estimate of $152.83 million. During the same period last 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, analysts expect that RBC Bearings Inc. will post $3.34 earnings per share for the current fiscal year.
In other 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 completion of the sale, the vice president now owns 43,940 shares of the company’s stock, valued at $3,317,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas M. Burigo sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $75.85, for a total transaction of $758,500.00. Following the sale, the insider now directly owns 18,554 shares of the company’s stock, valued at approximately $1,407,320.90. The disclosure for this sale can be found here.
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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