RBC Bearings Incorporated (ROLL) Short Interest Down 51.8% in December
RBC Bearings Incorporated (NASDAQ:ROLL) was the target of a significant decline in short interest during the month of December. As of December 29th, there was short interest totalling 242,181 shares, a decline of 51.8% from the December 15th total of 502,618 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 69,877 shares, the days-to-cover ratio is presently 3.5 days.
Shares of RBC Bearings (NASDAQ ROLL) opened at $130.70 on Friday. The company has a market capitalization of $3,145.57, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 6.09 and a beta of 1.35. RBC Bearings has a fifty-two week low of $87.61 and a fifty-two week high of $139.95. 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 issued its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $164.56 million. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 6.8% on a year-over-year basis. sell-side analysts expect that RBC Bearings will post 3.63 earnings per share for the current year.
A number of research firms have commented on ROLL. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub lowered RBC Bearings from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. CL King began coverage on RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price for the company. Finally, Drexel Hamilton began coverage on RBC Bearings in a report on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. RBC Bearings currently has an average rating of “Buy” and a consensus price target of $140.75.
In other RBC Bearings news, insider Michael J. Hartnett sold 500 shares of RBC Bearings stock in a transaction on Friday, December 29th. The stock was sold at an average price of $128.00, for a total value of $64,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 3,500 shares of RBC Bearings stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $128.79, for a total value of $450,765.00. The disclosure for this sale can be found here. Insiders have sold 37,487 shares of company stock valued at $4,632,657 in the last quarter. 3.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 637 shares during the period. SG Americas Securities LLC bought a new stake in shares of RBC Bearings in the third quarter worth $189,000. Victory Capital Management Inc. grew its holdings in shares of RBC Bearings by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 302 shares during the period. Comerica Bank bought a new stake in shares of RBC Bearings in the third quarter worth $230,000. Finally, Strs Ohio grew its holdings in shares of RBC Bearings by 58.3% in the third quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 700 shares during the period. 97.89% of the stock is owned by institutional investors.
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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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