RBC Bearings Incorporated (NYSE:RBC) Receives Average Recommendation of “Moderate Buy” from Analysts

RBC Bearings Incorporated (NYSE:RBCGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $275.86.

RBC has been the subject of several recent research reports. Bank of America raised shares of RBC Bearings from an “underperform” rating to a “buy” rating and raised their target price for the stock from $230.00 to $280.00 in a report on Wednesday, November 29th. Truist Financial raised their target price on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Citigroup raised their target price on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company raised their price target on shares of RBC Bearings from $235.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, November 13th. Finally, The Goldman Sachs Group raised their price target on shares of RBC Bearings from $229.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, December 14th.

Read Our Latest Stock Report on RBC

RBC Bearings Trading Down 2.4 %

Shares of RBC Bearings stock opened at $266.36 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. The firm has a fifty day moving average price of $273.34 and a 200 day moving average price of $250.64. RBC Bearings has a 1 year low of $195.18 and a 1 year high of $288.16. The stock has a market cap of $7.77 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 5.82 and a beta of 1.46.

Insider Activity

In other news, CEO Michael J. Hartnett sold 16,530 shares of RBC Bearings stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $260.54, for a total value of $4,306,726.20. Following the sale, the chief executive officer now owns 293,447 shares in the company, valued at $76,454,681.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 16,530 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $260.54, for a total transaction of $4,306,726.20. Following the transaction, the chief executive officer now owns 293,447 shares in the company, valued at $76,454,681.38. The disclosure for this sale can be found here. Insiders have sold a total of 46,604 shares of company stock worth $12,262,506 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in RBC Bearings by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock worth $1,646,000 after purchasing an additional 50 shares during the period. American Century Companies Inc. raised its stake in shares of RBC Bearings by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 3,086 shares of the industrial products company’s stock valued at $723,000 after acquiring an additional 50 shares during the period. Portside Wealth Group LLC raised its stake in shares of RBC Bearings by 4.8% in the 3rd quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 51 shares during the period. Global Retirement Partners LLC raised its stake in shares of RBC Bearings by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 53 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of RBC Bearings by 14.3% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 53 shares during the period.

RBC Bearings Company Profile

(Get Free Report

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.

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Analyst Recommendations for RBC Bearings (NYSE:RBC)

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