RBC Bearings Incorporated (ROLL) Short Interest Down 51.8% in December
RBC Bearings Incorporated (NASDAQ:ROLL) was the target of a large decrease in short interest in December. As of December 29th, there was short interest totalling 242,181 shares, a decrease of 51.8% from the December 15th total of 502,618 shares. Based on an average daily trading volume, of 69,877 shares, the short-interest ratio is currently 3.5 days. Currently, 1.0% of the shares of the stock are sold short.
Shares of RBC Bearings (ROLL) opened at $128.65 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. The company has a market capitalization of $3,168.85, a PE ratio of 43.61, a PEG ratio of 6.13 and a beta of 1.35. RBC Bearings has a 52 week low of $87.61 and a 52 week high of $139.95.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. sell-side analysts predict that RBC Bearings will post 3.63 earnings per share for the current year.
In other RBC Bearings news, VP Thomas C. Crainer sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total transaction of $1,811,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard J. Edwards sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,487 shares of company stock worth $4,632,657. 3.70% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of RBC Bearings by 106.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 637 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $189,000. Comerica Bank bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $230,000. Parametrica Management Ltd bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $238,000. Finally, Strs Ohio increased its stake in shares of RBC Bearings by 58.3% in the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 700 shares during the last quarter. 97.89% of the stock is owned by institutional investors.
Several brokerages have weighed in on ROLL. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a report on Monday, January 8th. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Drexel Hamilton began coverage on RBC Bearings in a report on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective for the company. BidaskClub cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, CL King began coverage on RBC Bearings in a report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $140.75.
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About RBC Bearings
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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