RBC Bearings Incorporated (NYSE:RBC) Stock Has Average Target Price of $615.44

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $615.44.

Several research analysts have recently weighed in on RBC shares. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Truist Financial upped their price target on RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Royal Bank Of Canada set a $600.00 price objective on RBC Bearings in a research note on Monday, September 14th. Raymond James Financial upgraded RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price on the stock in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th.

RBC Bearings Stock Down 6.6%

Shares of NYSE RBC opened at $463.07 on Monday. The stock’s fifty day simple moving average is $496.10 and its two-hundred day simple moving average is $551.17. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. RBC Bearings has a 12-month low of $406.90 and a 12-month high of $667.69. The stock has a market capitalization of $14.66 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.53 by $0.21. The firm had revenue of $524.60 million during the quarter, compared to analyst estimates of $513.95 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.88 EPS. As a group, analysts expect that RBC Bearings will post 14.03 EPS for the current fiscal year.

Institutional Trading of RBC Bearings

Several large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its holdings in RBC Bearings by 27.5% in the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock valued at $222,516,000 after buying an additional 88,468 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RBC Bearings by 40.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,430 shares of the industrial products company’s stock valued at $50,514,000 after buying an additional 22,721 shares during the last quarter. Bank of America Corp DE grew its position in RBC Bearings by 9.6% during the 1st quarter. Bank of America Corp DE now owns 77,992 shares of the industrial products company’s stock worth $42,359,000 after purchasing an additional 6,807 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of RBC Bearings by 12,957.3% in the first quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company’s stock valued at $40,707,000 after purchasing an additional 74,375 shares during the period. Finally, Squarepoint Ops LLC raised its position in RBC Bearings by 1,382.4% during the 2nd quarter. Squarepoint Ops LLC now owns 52,448 shares of the industrial products company’s stock worth $33,780,000 after buying an additional 48,910 shares during the last quarter.

Key Stories Impacting RBC Bearings

Here are the key news stories impacting RBC Bearings this week:

• Positive Sentiment: RBC Bearings reported adjusted earnings of $3.74 per share, exceeding the consensus estimate of $3.53–$3.55 and rising from $2.88 a year earlier. RBC Bearings Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Quarterly revenue increased 15.2% year over year to $524.6 million, ahead of the approximately $514 million analyst estimate, indicating continued demand for the company’s engineered industrial and aerospace products. RBC Bearings Reports Q2 Revenue Above Estimate
• Positive Sentiment: Management issued a fiscal third-quarter outlook calling for double-digit revenue growth. Commentary also highlighted a backlog of roughly $2.4 billion, supporting visibility into future sales. RBC Bearings Sees Double-Digit Revenue Growth
• Neutral Sentiment: The earnings release showed a 16.4% net margin and 12.06% return on equity, while analysts expect approximately $14.03 in earnings per share for the current fiscal year. RBC Bearings Fiscal Second-Quarter Results
• Negative Sentiment: Despite the results and outlook beat, RBC trades at a relatively high trailing P/E of about 45.8. The elevated valuation may have led investors to demand an even stronger forecast, contributing to the share-price decline as the market reacted to the release.

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.