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

Shares of RBC Bearings Incorporated (NYSE:RBC) have received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $324.67.

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

RBC Bearings Trading Down 1.0 %

Shares of RBC Bearings stock opened at $294.78 on Thursday. 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 firm has a market cap of $9.26 billion, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. RBC Bearings has a 52-week low of $240.36 and a 52-week high of $346.77. The company’s 50-day simple moving average is $316.97 and its 200-day simple moving average is $297.46.

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). 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 for the quarter, compared to analysts’ expectations of $403.89 million. During the same period last year, the company posted $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 earnings per share for the current year.

Hedge Funds Weigh In On RBC Bearings

Institutional investors have recently made changes to their positions in the stock. Marco Investment Management LLC grew 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 worth $242,000 after acquiring an additional 50 shares during the period. Raymond James Trust N.A. boosted its position in shares of RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 53 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in RBC Bearings by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 58 shares during the period. UMB Bank n.a. increased its position in 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 last quarter. Finally, GAMMA Investing LLC raised its stake in RBC Bearings by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 77 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.