RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $324.67.

A number of equities analysts have recently issued reports on the company. Truist Financial increased their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research note on Friday, November 22nd.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds have recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000. Blue Trust Inc. grew its stake in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after buying an additional 129 shares during the last quarter. Finally, Quarry LP raised its position in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after buying an additional 271 shares during the period.

RBC Bearings Stock Performance

Shares of RBC opened at $298.03 on Thursday. The stock has a market capitalization of $9.36 billion, a P/E ratio of 43.51, a P/E/G ratio of 4.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $346.77. The company’s fifty day moving average is $316.43 and its two-hundred day moving average is $297.14.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. On average, sell-side analysts predict that RBC Bearings will post 8.94 earnings per share for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.