RBC Bearings’ (RBC) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of RBC Bearings (NYSE:RBC) in a research note released on Monday,Benzinga reports. They currently have a $405.00 target price on the industrial products company’s stock, up from their prior target price of $375.00.

RBC has been the subject of a number of other research reports. KeyCorp raised their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $365.20.

RBC Bearings Price Performance

RBC stock opened at $367.18 on Monday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings has a one year low of $260.53 and a one year high of $380.49. The firm has a market capitalization of $11.53 billion, a PE ratio of 50.44, a P/E/G ratio of 4.42 and a beta of 1.66. The firm has a 50-day moving average of $335.76 and a two-hundred day moving average of $331.65.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.13. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. On average, analysts forecast that RBC Bearings will post 9.16 earnings per share for the current year.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently made changes to their positions in RBC. Vanguard Group Inc. grew its stake in shares of RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock valued at $879,149,000 after buying an additional 229,466 shares in the last quarter. Durable Capital Partners LP boosted its position in RBC Bearings by 1.9% during the fourth quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock worth $787,141,000 after purchasing an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in RBC Bearings by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company’s stock worth $328,253,000 after purchasing an additional 2,884 shares during the period. Geneva Capital Management LLC boosted its position in RBC Bearings by 1.0% during the first quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company’s stock worth $189,657,000 after purchasing an additional 5,753 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in RBC Bearings by 2.0% during the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock worth $175,515,000 after purchasing an additional 10,531 shares during the period.

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.