RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

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

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the transaction, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at $93,227,932. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RBC Bearings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marco Investment Management LLC raised its stake in shares of RBC Bearings by 6.6% during the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 50 shares during the period. Raymond James Trust N.A. raised its position in 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 period. SkyView Investment Advisors LLC raised its position 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 worth $1,084,000 after acquiring an additional 58 shares during the period. Legacy Advisors LLC boosted its stake in RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after acquiring an additional 61 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of 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 purchasing an additional 75 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $327.58 on Friday. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 4.61 and a beta of 1.55. RBC Bearings has a twelve month low of $240.36 and a twelve month high of $346.77. The stock has a fifty day simple moving average of $309.56 and a 200 day simple moving average of $294.12. 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 (NYSE:RBC) last issued its quarterly earnings data 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 company had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same quarter last year, the business earned $2.07 earnings per share. RBC Bearings’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that RBC Bearings will post 8.94 EPS for the current year.

RBC Bearings Company Profile

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.