Bank of America Corporation Boosts RBC Bearings Incorporated (NASDAQ:ROLL) Price Target to $140.00

RBC Bearings Incorporated (NASDAQ:ROLL) had its target price raised by Bank of America Corporation from $120.00 to $140.00 in a report issued on Wednesday, November 8th. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research analysts also recently commented on ROLL. BidaskClub downgraded RBC Bearings from a hold rating to a sell rating in a report on Friday, July 28th. Zacks Investment Research raised RBC Bearings from a hold rating to a buy rating and set a $119.00 target price on the stock in a report on Thursday, August 10th.

RBC Bearings (NASDAQ ROLL) opened at $125.16 on Wednesday. The company has a market capitalization of $3,060.93, a PE ratio of 37.46, a P/E/G ratio of 5.92 and a beta of 1.34. RBC Bearings has a 1-year low of $82.83 and a 1-year high of $135.54. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26.

RBC Bearings (NASDAQ:ROLL) last released its 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). RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. The firm had revenue of $164.30 million for the quarter, compared to the consensus estimate of $164.56 million. During the same period in the prior year, the business earned $0.78 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. equities analysts forecast that RBC Bearings will post 3.63 EPS for the current fiscal year.

In related news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas C. Crainer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ROLL. Teachers Advisors LLC increased its position in RBC Bearings by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 44,429 shares of the industrial products company’s stock valued at $4,314,000 after acquiring an additional 877 shares during the period. Vanguard Group Inc. increased its position in RBC Bearings by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock valued at $175,223,000 after acquiring an additional 96,915 shares during the period. Geode Capital Management LLC increased its position in RBC Bearings by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 194,578 shares of the industrial products company’s stock valued at $18,891,000 after acquiring an additional 13,131 shares during the period. BlackRock Inc. increased its position in RBC Bearings by 90,578.3% in the 1st quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock valued at $174,231,000 after acquiring an additional 1,792,544 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in RBC Bearings by 6.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 122,207 shares of the industrial products company’s stock valued at $11,866,000 after acquiring an additional 7,412 shares during the period. Hedge funds and other institutional investors own 98.54% of the company’s stock.

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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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