RBC Bearings (NYSE:RBC) Rating Lowered to “Hold” at Zacks Research

RBC Bearings (NYSE:RBC) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Truist Financial reissued a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Morgan Stanley boosted their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. KeyCorp boosted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Finally, Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $584.00.

RBC Bearings Stock Up 0.9%

NYSE:RBC opened at $589.42 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of 64.84, a price-to-earnings-growth ratio of 3.38 and a beta of 1.42. RBC Bearings has a twelve month low of $363.05 and a twelve month high of $632.00. The stock’s 50 day moving average price is $580.01 and its two-hundred day moving average price is $527.30.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.83 EPS. Equities research analysts expect that RBC Bearings will post 13.58 earnings per share for the current fiscal year.

Institutional Trading of RBC Bearings

Institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new stake in RBC Bearings in the 1st quarter valued at $27,000. SBI Securities Co. Ltd. boosted its stake in RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Millstone Evans Group LLC boosted its stake in RBC Bearings by 45.3% in the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings in the 4th quarter valued at $35,000. Finally, Advisors Asset Management Inc. bought a new stake in RBC Bearings in the 1st quarter valued at $26,000.

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.