RBC Bearings Incorporated (NASDAQ:ROLL) Receives Average “Buy” Rating from Brokerages
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) received an average recommendation of “buy” from the eight analysts who currently cover the stock, reports MarketBeat Ratings. One financial analyst rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The 12-month average price target among brokerages that have covered the stock over the past year is $225.67.
A number of research companies have recently commented on ROLL. Citigroup assumed coverage of RBC Bearings shares in a report on Wednesday, Dec. 1. They set a “neutral” rating and a price target of $220.00 for the company. They noted that the move was a review call. Royal Bank of Canada began covering shares of RBC Bearings in a report on Thursday. They issued a “buy” rating and a target price of $218.00 for the company. Zacks Investment Research moved shares of RBC Bearings from a “hold” rating to a “buy” rating and set a target price of $186.00 for the company in a Monday, February 14, report. Bank of America began covering shares of RBC Bearings in a report on Thursday. They issued a “buy” rating for the company. Finally, Morgan Stanley began covering shares of RBC Bearings in a report on Friday, December 3. They set an “overweight” rating and a price target of $263.00 for the company.
Shares of RBC Bearings were down $0.30 on Friday, hitting $181.77. 151,930 shares were traded, against an average volume of 166,560. The company has a market capitalization of $5.25 billion, a PE ratio of 58.07 and a beta of 1.36. The company’s 50-day moving average is $193.37 and its 200-day moving average is $210.63. RBC Bearings has a one-year minimum of $165.99 and a one-year maximum of $250.52.
RBC Bearings Inc (NASDAQ:ROLL) last released quarterly earnings data on Thursday, February 10. The industrial products company reported earnings per share of $0.70 for the quarter, beating Thomson Reuters consensus estimate of $0.66 by $0.04. RBC Bearings had a net margin of 12.75% and a return on equity of 6.61%. The company posted revenue of $266.95 million in the quarter, compared to $253.69 million expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.90. RBC Bearings revenue for the quarter increased 83.0% compared to the same quarter last year. As a group, research analysts predict RBC Bearings will post earnings per share of 4.01 for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of RBC Bearings by 1.5% during the fourth quarter. Wells Fargo & Company MN now owns 306,036 shares of the industrial products company worth $61,809,000 after acquiring 4,586 additional shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in RBC Bearings by 1,267.7% in the fourth quarter. SkyView Investment Advisors LLC now owns 14,744 shares of the industrial products company valued at $271,000 after buying 13,666 additional shares last quarter. KB Financial Partners LLC increased its stake in shares of RBC Bearings by 25.4% in the 4th quarter. KB Financial Partners LLC now owns 1,248 shares of the industrial products company valued at $252,000 after buying 253 additional shares in the last quarter. NewEdge Advisors LLC acquired a new position in RBC Bearings during Q4 worth approximately $207,000. Finally, Carmel Capital Management LLC acquired a new stake in RBC Bearings in Q4 worth approximately $3,935,000.
About RBC Bearings
RBC Bearings, Inc. engages in the design, manufacture and marketing of bearings and precision products. It operates through the following segments: plain bearings, roller bearings, ball bearings and engineered products. The Plain Bearings segment produces self-lubricating metal-to-metal designs and other subclasses, including rod end bearings, spherical plain bearings and plain bearings.
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