Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $275.86

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $275.86.

A number of brokerages recently issued reports on RBC. Citigroup raised their price target on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial boosted their target price on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th.

RBC Bearings Stock Up 0.7 %

NYSE RBC opened at $245.92 on Friday. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. RBC Bearings has a 52 week low of $195.18 and a 52 week high of $288.16. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 4.66 and a beta of 1.45. The company has a fifty day moving average of $264.26 and a two-hundred day moving average of $258.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. On average, analysts predict that RBC Bearings will post 8.02 earnings per share for the current year.

Insider Activity

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares in the company, valued at approximately $32,583,470.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Trading of RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. purchased a new stake in shares of RBC Bearings during the 4th quarter worth $27,000. Principal Securities Inc. bought a new position in RBC Bearings in the fourth quarter worth about $30,000. LWM Advisory Services LLC bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $31,000. Operose Advisors LLC purchased a new position in shares of RBC Bearings in the 3rd quarter worth approximately $45,000. Finally, GAMMA Investing LLC purchased a new position in shares of RBC Bearings in the 4th quarter worth approximately $66,000.

About RBC Bearings

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.