RBC Bearings’ (RBC) “Outperform” Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of RBC Bearings (NYSE:RBC) in a research report released on Tuesday morning,RTT News reports.

Several other research analysts have also recently issued reports on the company. Truist Financial upped their price objective on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a report on Friday, November 22nd. Finally, Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Stock Up 0.4 %

Shares of RBC Bearings stock opened at $340.16 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings has a 52-week low of $240.36 and a 52-week high of $343.66. The company has a market capitalization of $10.68 billion, a P/E ratio of 49.71, a P/E/G ratio of 4.63 and a beta of 1.51. The company has a 50 day moving average of $298.76 and a 200 day moving average of $289.10.

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

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the completion of the sale, the chief executive officer now directly owns 320,053 shares of the company’s stock, valued at $92,021,638.56. This represents a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 34,127 shares of company stock worth $9,839,707 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. raised its position in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. DT Investment Partners LLC purchased a new position in RBC Bearings during the second quarter worth about $35,000. Opal Wealth Advisors LLC acquired a new stake in RBC Bearings in the second quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new stake in RBC Bearings in the 2nd quarter valued at approximately $54,000. Finally, Blue Trust Inc. increased its position in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period.

About RBC Bearings

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.