$174.68 Million in Sales Expected for RBC Bearings Incorporated (ROLL) This Quarter

Wall Street analysts predict that RBC Bearings Incorporated (NASDAQ:ROLL) will post sales of $174.68 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $175.25 million and the lowest estimate coming in at $174.10 million. RBC Bearings posted sales of $160.21 million during the same quarter last year, which suggests a positive year over year growth rate of 9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 30th.

According to Zacks, analysts expect that RBC Bearings will report full year sales of $669.76 million for the current year, with estimates ranging from $669.20 million to $670.32 million. For the next year, analysts expect that the firm will post sales of $731.01 million per share, with estimates ranging from $720.80 million to $741.22 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.19. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The business had revenue of $166.86 million during the quarter, compared to analysts’ expectations of $163.46 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. RBC Bearings’s revenue was up 13.8% compared to the same quarter last year.

Several equities research analysts recently weighed in on ROLL shares. Drexel Hamilton started coverage on shares of RBC Bearings in a research report on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective for the company. BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. RBC Bearings has a consensus rating of “Buy” and an average target price of $141.00.

ROLL opened at $125.99 on Tuesday. RBC Bearings has a twelve month low of $91.00 and a twelve month high of $139.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.65 and a quick ratio of 1.65. The stock has a market cap of $3,001.45, a P/E ratio of 39.74, a PEG ratio of 4.49 and a beta of 1.26.

In other news, insider Michael J. Hartnett sold 27,421 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $128.06, for a total value of $3,511,533.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel A. Bergeron sold 20,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $124.03, for a total transaction of $2,480,600.00. The disclosure for this sale can be found here. Insiders have sold 92,989 shares of company stock valued at $11,736,880 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of RBC Bearings in the third quarter worth about $189,000. Global X Management Co. LLC lifted its holdings in shares of RBC Bearings by 75.0% in the fourth quarter. Global X Management Co. LLC now owns 1,645 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 705 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of RBC Bearings in the fourth quarter worth about $276,000. Xact Kapitalforvaltning AB bought a new position in shares of RBC Bearings in the fourth quarter worth about $312,000. Finally, Capital Fund Management S.A. bought a new position in shares of RBC Bearings in the fourth quarter worth about $316,000. 99.46% of the stock is owned by hedge funds and other institutional investors.