RBC Bearings Incorporated (NYSE:RBC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $325.33.

Several brokerages recently commented on RBC. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial raised their price target on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a report on Friday, November 22nd. Finally, Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st.

Institutional Trading of RBC Bearings

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of RBC Bearings in the 2nd quarter worth about $244,000. Millennium Management LLC boosted its stake in RBC Bearings by 313.5% in the second quarter. Millennium Management LLC now owns 46,861 shares of the industrial products company’s stock valued at $12,642,000 after acquiring an additional 35,529 shares during the period. Algert Global LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $754,000. NewEdge Advisors LLC raised its position in shares of RBC Bearings by 2,384.9% during the 2nd quarter. NewEdge Advisors LLC now owns 5,417 shares of the industrial products company’s stock worth $1,461,000 after purchasing an additional 5,199 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of RBC Bearings in the 2nd quarter worth approximately $1,096,000.

RBC Bearings Price Performance

RBC opened at $348.34 on Monday. The company has a 50 day moving average of $316.93 and a two-hundred day moving average of $301.27. RBC Bearings has a 52-week low of $240.36 and a 52-week high of $364.96. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a market cap of $10.94 billion, a P/E ratio of 47.85, a P/E/G ratio of 4.81 and a beta of 1.58.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that RBC Bearings will post 8.91 earnings per share for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.