RBC Bearings (NYSE:RBC) Stock Gets Price Target Reduction from Morgan Stanley

RBC Bearings (NYSE:RBC) had its price objective reduced by Morgan Stanley from $655.00 to $600.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Several other analysts also recently commented on RBC. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 price objective on shares of RBC Bearings in a research report on Monday. Royal Bank Of Canada set a $600.00 price target on RBC Bearings in a research note on Monday, September 14th. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $609.67.

RBC Bearings Trading Down 3.6%

NYSE:RBC opened at $478.21 on Monday. RBC Bearings has a twelve month low of $418.05 and a twelve month high of $667.69. The company has a quick ratio of 1.16, a current ratio of 3.13 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $495.07 and a two-hundred day moving average price of $551.03. The company has a market cap of $15.14 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.21. RBC Bearings had a net margin of 17.51% and a return on equity of 12.50%. The company had revenue of $524.60 million for the quarter, compared to the consensus estimate of $513.95 million. During the same period last year, the company earned $2.88 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that RBC Bearings will post 14.03 EPS for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in shares of RBC Bearings in the first quarter valued at $27,000. Toth Financial Advisory Corp bought a new stake in shares of RBC Bearings during the third quarter worth about $25,000. Millstone Evans Group LLC increased its position in shares of RBC Bearings by 45.3% during the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 24 shares in the last quarter. Basecamp Wealth Advisors LLC increased its position in shares of RBC Bearings by 49.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 34 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of RBC Bearings by 325.9% in the 3rd quarter. Covestor Ltd now owns 115 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 88 shares during the last quarter.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.