RBC Bearings (NASDAQ:ROLL – Get Rating) announced its quarterly earnings data on Thursday. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.19, MarketWatch Earnings reports. The company had revenue of $358.90 million for the quarter, compared to the consensus estimate of $349.91 million. RBC Bearings had a return on equity of 5.76% and a net margin of 7.77%. The firm’s revenue was up 123.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS. RBC Bearings updated its Q1 2023 guidance to EPS.
Shares of ROLL opened at $185.82 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.88. RBC Bearings has a 52 week low of $152.90 and a 52 week high of $250.52. The firm has a market capitalization of $5.37 billion, a P/E ratio of 89.77 and a beta of 1.35. The stock has a 50 day moving average price of $177.19 and a two-hundred day moving average price of $190.20.
ROLL has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on RBC Bearings in a research note on Friday, March 11th. They issued an “overweight” rating and a $235.00 price objective on the stock. Royal Bank of Canada initiated coverage on RBC Bearings in a research report on Thursday, February 17th. They issued a “buy” rating and a $218.00 target price for the company. Bank of America initiated coverage on RBC Bearings in a research report on Thursday, February 17th. They issued a “buy” rating for the company. TheStreet lowered RBC Bearings from a “b-” rating to a “c+” rating in a research report on Thursday, April 28th. Finally, Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research report on Monday, February 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has a consensus rating of “Buy” and an average target price of $227.00.
Several institutional investors have recently modified their holdings of ROLL. Durable Capital Partners LP boosted its stake in shares of RBC Bearings by 28.2% during the 1st quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock worth $311,176,000 after acquiring an additional 353,074 shares during the last quarter. BlackRock Inc. boosted its stake in shares of RBC Bearings by 3.5% during the 4th quarter. BlackRock Inc. now owns 2,111,378 shares of the industrial products company’s stock worth $426,433,000 after acquiring an additional 72,304 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in shares of RBC Bearings by 3.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock worth $282,757,000 after acquiring an additional 49,064 shares during the last quarter. Morgan Stanley boosted its stake in shares of RBC Bearings by 112.6% during the 2nd quarter. Morgan Stanley now owns 49,365 shares of the industrial products company’s stock worth $9,845,000 after acquiring an additional 26,140 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of RBC Bearings by 198.2% during the 4th quarter. Barclays PLC now owns 34,084 shares of the industrial products company’s stock worth $6,884,000 after acquiring an additional 22,655 shares during the last quarter.
RBC Bearings Company Profile (Get Rating)
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates through four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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