Analysts Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $275.86

RBC Bearings Incorporated (NYSE:RBC) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $275.86.

Several equities research analysts recently weighed in on RBC shares. Truist Financial raised their price objective on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup lifted their price target on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th.

RBC Bearings Stock Performance

NYSE:RBC opened at $245.92 on Friday. RBC Bearings has a twelve month low of $195.18 and a twelve month high of $288.16. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $264.26 and its 200 day simple moving average is $258.69. The firm has a market capitalization of $6.93 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 4.66 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The company had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. On average, analysts anticipate that RBC Bearings will post 8.02 EPS for the current fiscal year.

Insider Activity

In related news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of RBC Bearings in the 4th quarter worth about $83,318,000. Maren Capital LLC acquired a new stake in RBC Bearings during the fourth quarter worth approximately $80,912,000. Bank of New York Mellon Corp increased its holdings in RBC Bearings by 143.4% in the third quarter. Bank of New York Mellon Corp now owns 229,704 shares of the industrial products company’s stock worth $53,781,000 after purchasing an additional 135,349 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in RBC Bearings by 1,362.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company’s stock valued at $33,853,000 after buying an additional 110,705 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of RBC Bearings by 1,721.8% during the 3rd quarter. Principal Financial Group Inc. now owns 113,641 shares of the industrial products company’s stock worth $26,607,000 after buying an additional 107,403 shares in the last quarter.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.