RBC Bearings Inc. (ROLL) Hits New 1-Year High at $83.40
RBC Bearings Inc. (NASDAQ:ROLL) hit a new 52-week high on Thursday . The company traded as high as $83.40 and last traded at $77.90, with a volume of 83,800 shares. The stock had previously closed at $75.27.
A number of equities research analysts have weighed in on the company. Avondale Partners reiterated a “buy” rating and issued a $80.00 target price on shares of RBC Bearings in a report on Tuesday, May 24th. Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. RBC Bearings has a consensus rating of “Hold” and an average price target of $74.80.
The company has a market cap of $1.82 billion and a P/E ratio of 28.78. The stock’s 50-day moving average is $74.06 and its 200 day moving average is $70.16.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by $0.01. The company earned $154.58 million during 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 period in the previous year, the company earned $0.78 EPS. Equities analysts forecast that RBC Bearings Inc. will post $3.39 EPS for the current year.
In other RBC Bearings news, CEO Michael J. Hartnett sold 56,730 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $75.56, for a total value of $4,286,518.80. Following the completion of the sale, the chief executive officer now owns 509,574 shares in the company, valued at approximately $38,503,411.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael J. Hartnett sold 43,270 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $75.71, for a total value of $3,275,971.70. Following the completion of the sale, the chief executive officer now owns 540,574 shares of the company’s stock, valued at approximately $40,926,857.54. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in ROLL. First Trust Advisors LP boosted its stake in 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 during the period. Rhumbline Advisers boosted its stake in 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 during the period. State of Wisconsin Investment Board boosted its stake in 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 during the period. Finally, Eaton Vance Management boosted its stake in 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 during the period.
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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