RBC Bearings Incorporated (NYSE:RBC) Given Consensus Rating of “Moderate Buy” by Analysts

RBC Bearings Incorporated (NYSE:RBCGet Free Report) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $297.20.

Separately, Truist Financial increased their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday.

View Our Latest Stock Analysis on RBC Bearings

RBC Bearings Stock Down 0.0 %

Shares of NYSE:RBC traded down $0.13 during midday trading on Wednesday, hitting $322.38. 39,091 shares of the company’s stock traded hands, compared to its average volume of 142,524. The firm’s fifty day moving average price is $295.16 and its two-hundred day moving average price is $287.18. 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 twelve month low of $239.23 and a twelve month high of $328.39. The company has a market cap of $10.13 billion, a PE ratio of 47.23, a P/E/G ratio of 3.59 and a beta of 1.51.

RBC Bearings (NYSE:RBCGet Free Report) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. RBC Bearings’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, equities research analysts anticipate that RBC Bearings will post 8.94 EPS for the current fiscal year.

Insider Activity

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the transaction, the chief executive officer now owns 322,588 shares of the company’s stock, valued at $93,227,932. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,327 shares of company stock worth $11,068,921 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of RBC Bearings by 31.2% during the 1st quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 772 shares during the last quarter. Vanguard Group Inc. increased its position in shares of RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after purchasing an additional 19,574 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of RBC Bearings during the 1st quarter worth approximately $676,000. Bessemer Group Inc. lifted its stake in RBC Bearings by 75.2% in the first quarter. Bessemer Group Inc. now owns 52,586 shares of the industrial products company’s stock valued at $14,216,000 after acquiring an additional 22,573 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of RBC Bearings by 1.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 16,303 shares of the industrial products company’s stock worth $4,404,000 after purchasing an additional 203 shares during the last quarter.

RBC Bearings Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for RBC Bearings (NYSE:RBC)

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