Truist Financial Boosts RBC Bearings (NYSE:RBC) Price Target to $351.00

RBC Bearings (NYSE:RBC) had its price target increased by research analysts at Truist Financial from $347.00 to $351.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price points to a potential upside of 15.73% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research note on Friday, November 22nd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.33.

RBC Bearings Price Performance

RBC Bearings stock traded up $5.32 during midday trading on Tuesday, reaching $303.28. 7,206 shares of the stock traded hands, compared to its average volume of 86,930. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The stock has a market cap of $9.53 billion, a P/E ratio of 44.27, a PEG ratio of 4.50 and a beta of 1.57. RBC Bearings has a 12 month low of $240.36 and a 12 month high of $346.77. The stock’s fifty day moving average is $317.24 and its 200-day moving average is $297.85.

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

Institutional Investors Weigh In On RBC Bearings

Large investors have recently modified their holdings of the stock. Marco Investment Management LLC lifted its stake in RBC Bearings by 6.6% in the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 50 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of RBC Bearings by 2.6% during the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after buying an additional 53 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of RBC Bearings by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 58 shares during the period. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in RBC Bearings by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company’s stock valued at $155,000 after buying an additional 77 shares during the period.

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.