KeyCorp Weighs in on RBC Bearings Incorporated’s FY2022 Earnings (NASDAQ:ROLL)

RBC Bearings Incorporated (NASDAQ:ROLL) – Equities researchers at KeyCorp raised their FY2022 earnings per share estimates for RBC Bearings in a note issued to investors on Wednesday, October 13th. KeyCorp analyst S. Barger now expects that the industrial products company will earn $4.61 per share for the year, up from their previous forecast of $4.51.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Thursday, August 5th. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $156.21 million for the quarter, compared to analyst estimates of $159.26 million. RBC Bearings had a net margin of 15.27% and a return on equity of 8.16%.

Other equities analysts have also issued research reports about the company. Truist raised RBC Bearings from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $250.00 in a research note on Thursday, September 23rd. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating and set a $211.00 price objective for the company. in a research report on Tuesday, July 6th. Truist Financial raised shares of RBC Bearings to a “buy” rating and set a $250.00 target price on the stock in a research note on Thursday, September 23rd. Finally, Truist Securities raised shares of RBC Bearings from a “hold” rating to a “buy” rating and increased their price target for the company from $225.00 to $250.00 in a research note on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings has a consensus rating of “Hold” and a consensus price target of $240.25.

ROLL stock opened at $214.50 on Thursday. RBC Bearings has a 1 year low of $114.49 and a 1 year high of $250.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.23 and a quick ratio of 4.36. The firm has a market capitalization of $5.45 billion, a PE ratio of 57.97 and a beta of 1.38. The business has a 50 day simple moving average of $220.62 and a 200-day simple moving average of $207.59.

A number of hedge funds have recently made changes to their positions in ROLL. Intrust Bank NA raised its stake in shares of RBC Bearings by 4.2% in the 2nd quarter. Intrust Bank NA now owns 1,094 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 44 shares during the period. Torray LLC lifted its stake in RBC Bearings by 0.7% during the second quarter. Torray LLC now owns 6,648 shares of the industrial products company’s stock worth $1,326,000 after purchasing an additional 48 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of RBC Bearings by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 13,831 shares of the industrial products company’s stock worth $2,758,000 after purchasing an additional 53 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of RBC Bearings by 3.5% in the first quarter. Cresset Asset Management LLC now owns 1,708 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 58 shares during the period. Finally, Man Group plc grew its holdings in shares of RBC Bearings by 2.7% in the first quarter. Man Group plc now owns 3,881 shares of the industrial products company’s stock valued at $763,000 after purchasing an additional 101 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

About RBC Bearings

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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Earnings History and Estimates for RBC Bearings (NASDAQ:ROLL)

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