RBC Bearings (NASDAQ:ROLL) Lifted to “Buy” at Truist Financial

Truist Financial upgraded shares of RBC Bearings (NASDAQ:ROLL) to a buy rating in a report released on Thursday morning, TipRanks reports. The brokerage currently has $250.00 price target on the industrial products company’s stock.

Several other brokerages have also recently weighed in on ROLL. Truist Securities raised shares of RBC Bearings from a hold rating to a buy rating and raised their price target for the company from $225.00 to $250.00 in a research report on Thursday. Zacks Investment Research cut shares of RBC Bearings from a buy rating to a hold rating and set a $211.00 price target on the stock. in a research report on Tuesday, July 6th. Finally, Truist raised shares of RBC Bearings from a hold rating to a buy rating and raised their price target for the company from $225.00 to $250.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of Hold and an average target price of $240.25.

ROLL stock opened at $211.21 on Thursday. The stock has a market capitalization of $5.37 billion, a PE ratio of 57.08 and a beta of 1.38. The company’s 50-day moving average is $221.91 and its 200-day moving average is $205.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.23 and a quick ratio of 4.36. RBC Bearings has a 1 year low of $114.49 and a 1 year high of $250.52.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Thursday, August 5th. The industrial products company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.04. RBC Bearings had a net margin of 15.27% and a return on equity of 8.16%. The business had revenue of $156.21 million for the quarter, compared to analysts’ expectations of $159.26 million. On average, analysts anticipate that RBC Bearings will post 4.49 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of RBC Bearings by 6.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,197,544 shares of the industrial products company’s stock worth $438,236,000 after buying an additional 139,502 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of RBC Bearings by 1.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,671,881 shares of the industrial products company’s stock worth $328,977,000 after buying an additional 25,291 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of RBC Bearings by 46.3% during the 1st quarter. Fred Alger Management LLC now owns 1,244,398 shares of the industrial products company’s stock worth $244,860,000 after buying an additional 394,017 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of RBC Bearings by 4.0% during the 2nd quarter. Clearbridge Investments LLC now owns 913,516 shares of the industrial products company’s stock worth $182,173,000 after buying an additional 34,994 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in shares of RBC Bearings by 0.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 785,181 shares of the industrial products company’s stock worth $156,581,000 after buying an additional 7,015 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

RBC Bearings Company Profile

RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and 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 sub-classes, including rod end bearings, spherical plain bearings, and journal bearings.

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