RBC Bearings Incorporated (NASDAQ:ROLL) was the recipient of a large 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. Based on an average daily volume of 69,877 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.0% of the company’s shares are short sold.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Tuesday, January 23rd. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. CL King assumed coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price for the company. Finally, Bank of America boosted their target price on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. RBC Bearings currently has an average rating of “Buy” and a consensus target price of $141.50.

RBC Bearings (NASDAQ:ROLL) opened at $130.00 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. RBC Bearings has a 12-month low of $88.70 and a 12-month high of $139.95. The stock has a market capitalization of $3,120.00, a P/E ratio of 44.07, a P/E/G ratio of 6.00 and a beta of 1.35.

 RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The business had revenue of $164.30 million during the quarter, compared to analyst estimates of $164.56 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. RBC Bearings’s revenue for the quarter was up 6.8% compared to the same quarter last year. research analysts anticipate that RBC Bearings will post 3.74 earnings per share for the current fiscal year.

In other news, insider Michael J. Hartnett sold 1,687 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $128.28, for a total transaction of $216,408.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Hartnett sold 500 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $128.00, for a total value of $64,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock valued at $4,632,657 over the last three months. Company insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ROLL. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RBC Bearings by 106.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 637 shares during the period. SG Americas Securities LLC acquired a new position in shares of RBC Bearings in the 3rd quarter valued at approximately $189,000. Victory Capital Management Inc. grew its position in shares of RBC Bearings by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 302 shares during the period. Comerica Bank acquired a new position in shares of RBC Bearings in the 3rd quarter valued at approximately $230,000. Finally, Strs Ohio boosted its position in RBC Bearings by 58.3% during the 3rd 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 last quarter. Institutional investors and hedge funds own 98.81% of the company’s stock.