RBC Bearings Incorporated (NYSE:RBC) Receives $324.67 Consensus Target Price from Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $324.67.

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

Institutional Trading of RBC Bearings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted 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 acquiring an additional 75 shares during the last quarter. DT Investment Partners LLC purchased a new stake in shares of RBC Bearings in the second quarter worth about $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of RBC Bearings in the second quarter valued at about $54,000. Strategic Financial Concepts LLC purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at about $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the period.

RBC Bearings Stock Performance

NYSE:RBC opened at $310.20 on Friday. 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 fifty-two week low of $240.36 and a fifty-two week high of $346.77. The firm’s fifty day simple moving average is $312.35 and its 200-day simple moving average is $294.82. The stock has a market cap of $9.74 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last issued 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 analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. Analysts expect that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

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.