RBC Bearings (NYSE:RBC) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of RBC Bearings (NYSE:RBC) from a neutral rating to a buy rating in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has $500.00 target price on the industrial products company’s stock, up from their previous target price of $390.00.

Several other equities research analysts also recently issued reports on the company. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a research report on Monday. Finally, KeyCorp increased their price target on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $459.17.

RBC Bearings Trading Up 0.0%

NYSE:RBC opened at $431.43 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The firm has a 50-day moving average of $389.77 and a 200-day moving average of $380.44. The company has a market cap of $13.64 billion, a PE ratio of 54.34, a PEG ratio of 3.16 and a beta of 1.73. RBC Bearings has a one year low of $290.56 and a one year high of $439.10.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. The business had revenue of $156.21 million during the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. As a group, equities research analysts expect that RBC Bearings will post 9.16 EPS for the current fiscal year.

Insider Activity at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the transaction, the vice president directly owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This trade represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.

Institutional Trading of RBC Bearings

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the 1st quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in RBC Bearings during the third quarter valued at approximately $36,000. Hantz Financial Services Inc. raised its stake in shares of RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $38,000.

About RBC Bearings

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.