RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Moderate Buy” from Analysts

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $623.00.

Several equities research analysts have commented on the stock. Truist Financial upped their price objective on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a research report on Tuesday, August 4th. Morgan Stanley upped their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada set a $645.00 price objective on shares of RBC Bearings in a report on Monday, August 3rd.

RBC Bearings Stock Down 0.6%

Shares of NYSE RBC opened at $487.71 on Friday. RBC Bearings has a one year low of $364.50 and a one year high of $667.69. 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 business’s fifty day moving average price is $560.06 and its 200-day moving average price is $573.01. The stock has a market capitalization of $15.44 billion, a PE ratio of 48.19, a P/E/G ratio of 2.62 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data 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. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The company had revenue of $519.50 million during the quarter, compared to analyst estimates of $508.92 million. During the same quarter last year, the firm posted $2.84 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities research analysts anticipate that RBC Bearings will post 14.12 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In other news, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the transaction, the director directly owned 7,254 shares in the company, valued at approximately $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John J. Feeney sold 225 shares of the business’s stock in a transaction 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. The trade was a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in RBC Bearings by 61,201.1% during the 2nd quarter. California State Teachers Retirement System now owns 21,261,065 shares of the industrial products company’s stock valued at $13,693,402,000 after buying an additional 21,226,382 shares in the last quarter. Norges Bank purchased a new stake in shares of RBC Bearings in the fourth quarter worth about $175,909,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of RBC Bearings by 39,846.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock valued at $83,295,000 after acquiring an additional 185,284 shares during the period. Cartenna Capital LP bought a new position in shares of RBC Bearings in the fourth quarter valued at approximately $76,233,000. Finally, Invesco Ltd. grew its stake in RBC Bearings by 60.5% during the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after acquiring an additional 143,710 shares in the last quarter.

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.