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

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $489.1667.

Several research firms recently commented on RBC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial set a $542.00 price objective on RBC Bearings in a research note on Friday, January 9th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th.

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in RBC Bearings during the first quarter worth about $26,000. AQR Capital Management LLC grew its holdings in shares of RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 303 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RBC Bearings by 64.1% in the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in RBC Bearings by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after purchasing an additional 4,253 shares in the last quarter.

RBC Bearings Trading Up 1.0%

Shares of RBC opened at $509.59 on Friday. RBC Bearings has a fifty-two week low of $297.28 and a fifty-two week high of $512.82. The business has a 50-day moving average of $463.92 and a 200 day moving average of $419.77. The firm has a market cap of $16.11 billion, a P/E ratio of 62.22, a price-to-earnings-growth ratio of 3.36 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 3.18.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, October 31st. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $455.30 million during the quarter, compared to analyst estimates of $450.27 million. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. As a group, research analysts forecast that RBC Bearings will post 9.16 EPS for the current year.

RBC Bearings Company Profile

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.