RBC Bearings Inc. (ROLL) Sees Large Volume Increase
Shares of RBC Bearings Inc. (NASDAQ:ROLL) saw strong trading volume on Tuesday . 123,955 shares traded hands during 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.
A number of analysts have commented on the company. Zacks Investment Research lowered RBC Bearings from a “hold” rating to a “sell” rating in a report on Friday, August 26th. Avondale Partners restated a “buy” rating and issued a $80.00 target price on shares of RBC Bearings in a research note on Tuesday, May 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.80.
The firm has a market cap of $1.84 billion and a PE ratio of 27.095. The firm has a 50-day moving average price of $77.16 and a 200 day moving average price of $72.98.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $154.58 million for the quarter, compared to analyst estimates 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 business earned $0.78 EPS. Analysts forecast that RBC Bearings Inc. will post $3.34 earnings per share for the current fiscal year.
In other RBC Bearings news, VP Thomas C. Crainer sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 43,940 shares of the company’s stock, valued at $3,317,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 5,957 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $73.09, for a total transaction of $435,397.13. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.