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

Shares of RBC Bearings Incorporated (NYSE:RBC) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $574.6667.

A number of brokerages have recently issued reports on RBC. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Truist Financial raised RBC Bearings to a “strong-buy” rating in a research note on Friday. KeyCorp increased their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th.

Hedge Funds Weigh In On RBC Bearings

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after purchasing an additional 4,568 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after purchasing an additional 211,093 shares in the last quarter. Geode Capital Management LLC increased its stake in RBC Bearings by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after purchasing an additional 48,419 shares in the last quarter. Maren Capital LLC increased its stake in RBC Bearings by 1.4% in the 4th quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock valued at $201,934,000 after purchasing an additional 6,373 shares in the last quarter. Finally, Invesco Ltd. increased its stake in RBC Bearings by 6.2% in the 4th quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company’s stock valued at $181,514,000 after purchasing an additional 23,616 shares in the last quarter.

RBC Bearings Stock Performance

Shares of RBC stock opened at $596.12 on Monday. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 70.13, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The stock has a 50 day simple moving average of $566.84 and a 200-day simple moving average of $499.41. RBC Bearings has a 12-month low of $337.43 and a 12-month high of $607.45. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last issued its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. On average, equities analysts forecast that RBC Bearings will post 11.43 EPS for the current year.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.