RBC Bearings (NYSE:RBC) Price Target Increased to $285.00 by Analysts at Citigroup

RBC Bearings (NYSE:RBCFree Report) had its price objective hoisted by Citigroup from $250.00 to $285.00 in a research note released on Monday, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. Bank of America upgraded RBC Bearings from an underperform rating to a buy rating and raised their target price for the stock from $230.00 to $280.00 in a report on Wednesday, November 29th. Wells Fargo & Company raised their target price on RBC Bearings from $235.00 to $240.00 and gave the stock an equal weight rating in a report on Monday, November 13th. Truist Financial raised their target price on RBC Bearings from $271.00 to $309.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group raised their target price on RBC Bearings from $229.00 to $256.00 and gave the stock a buy rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, RBC Bearings presently has an average rating of Moderate Buy and an average target price of $275.86.

Check Out Our Latest Stock Report on RBC

RBC Bearings Price Performance

RBC Bearings stock opened at $268.50 on Monday. The business’s 50-day simple moving average is $272.97 and its 200 day simple moving average is $246.44. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 5.57 and a beta of 1.46. RBC Bearings has a 12-month low of $195.18 and a 12-month high of $288.16. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47.

Insider Activity

In other news, VP John J. Feeney sold 302 shares of RBC Bearings stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $241.26, for a total transaction of $72,860.52. Following the transaction, the vice president now owns 3,056 shares in the company, valued at approximately $737,290.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RBC Bearings news, VP John J. Feeney sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $255.90, for a total transaction of $76,770.00. Following the completion of the transaction, the vice president now owns 2,756 shares of the company’s stock, valued at approximately $705,260.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John J. Feeney sold 302 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $241.26, for a total value of $72,860.52. Following the transaction, the vice president now directly owns 3,056 shares of the company’s stock, valued at approximately $737,290.56. The disclosure for this sale can be found here. Insiders have sold 47,091 shares of company stock worth $12,049,813 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. boosted its position in RBC Bearings by 8.2% during the 4th quarter. Eagle Asset Management Inc. now owns 87,895 shares of the industrial products company’s stock worth $25,040,000 after acquiring an additional 6,661 shares during the last quarter. Axiom Investors LLC DE boosted its position in RBC Bearings by 196.4% during the 4th quarter. Axiom Investors LLC DE now owns 42,240 shares of the industrial products company’s stock worth $12,034,000 after acquiring an additional 27,991 shares during the last quarter. Evoke Wealth LLC acquired a new position in RBC Bearings during the 4th quarter worth approximately $6,589,000. Treasurer of the State of North Carolina boosted its position in RBC Bearings by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 12,540 shares of the industrial products company’s stock worth $3,573,000 after acquiring an additional 120 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of RBC Bearings by 2.6% during the 4th quarter. Stifel Financial Corp now owns 49,422 shares of the industrial products company’s stock worth $14,080,000 after purchasing an additional 1,271 shares in the last quarter.

About RBC Bearings

(Get Free Report)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

Read More

Analyst Recommendations for RBC Bearings (NYSE:RBC)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.