RBC Bearings Incorporated (NYSE:RBC) Receives Average Recommendation of “Moderate Buy” from Brokerages

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $584.00.

A number of analysts have recently weighed in on RBC shares. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp raised their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley raised their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th.

RBC Bearings Stock Performance

RBC Bearings stock opened at $630.07 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $597.75 and a 200-day moving average of $547.06. The firm has a market cap of $19.94 billion, a P/E ratio of 69.31, a P/E/G ratio of 3.64 and a beta of 1.42. RBC Bearings has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.83 earnings per share. Sell-side analysts expect that RBC Bearings will post 13.58 EPS for the current year.

Insider Buying and Selling

In related news, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the sale, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dolores J. Ennico sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director owned 7,254 shares in the company, valued at $4,614,341.94. This represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,425 shares of company stock worth $885,401. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBC. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings during the 1st quarter valued at $26,000. Western Wealth Management LLC bought a new stake in RBC Bearings in the 1st quarter valued at $27,000. SBI Securities Co. Ltd. increased its holdings in RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC increased its holdings in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings in the 4th quarter valued at $35,000.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.