RBC Bearings Incorporated (NYSE:RBC) Receives $560.50 Consensus PT from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $560.50.

A number of research analysts have issued reports on RBC shares. The Goldman Sachs Group restated a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a report on Friday, February 6th. Zacks Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Finally, KeyCorp boosted their target price on shares of RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a research note on Friday, February 6th.

RBC Bearings Stock Up 1.4%

RBC Bearings stock opened at $559.41 on Wednesday. RBC Bearings has a fifty-two week low of $297.28 and a fifty-two week high of $564.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The firm’s 50-day simple moving average is $496.27 and its 200 day simple moving average is $436.99. The stock has a market cap of $17.69 billion, a PE ratio of 65.81, a price-to-earnings-growth ratio of 3.11 and a beta of 1.52.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.83 by $0.21. The firm had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 EPS. Research analysts predict that RBC Bearings will post 9.16 EPS for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings in the first quarter valued at $26,000. AQR Capital Management LLC raised its stake in RBC Bearings by 27.8% in the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 282 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in RBC Bearings by 32.7% during the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 303 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of 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 worth $68,133,000 after purchasing an additional 4,253 shares in the last quarter.

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.