Analysts Set RBC Bearings Incorporated (NYSE:RBC) PT at $623.00

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $623.00.

RBC has been the subject of a number of research analyst reports. Truist Financial boosted their price target on RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Royal Bank Of Canada set a $645.00 price objective on RBC Bearings in a research note on Monday, August 3rd. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Raymond James Financial raised RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price for the company in a research note on Monday, August 3rd. Finally, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $545.53 on Wednesday. RBC Bearings has a 1 year low of $364.50 and a 1 year high of $667.69. The stock has a market capitalization of $17.27 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98. The company’s 50 day simple moving average is $592.70 and its 200 day simple moving average is $576.12.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.84 earnings per share. As a group, research analysts predict that RBC Bearings will post 14.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP John J. Feeney sold 225 shares of the company’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 transaction of $148,036.50. Following the completion of the transaction, the vice president directly owned 2,378 shares in the company, valued at $1,564,581.32. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the transaction, the director directly owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. The trade was a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,425 shares of company stock worth $885,400 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in RBC Bearings in the first quarter valued at about $26,000. Western Wealth Management LLC acquired a new stake in shares of RBC Bearings during the first quarter valued at about $27,000. SBI Securities Co. Ltd. grew its holdings in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the period.

RBC Bearings Company Profile

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.