RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $324.67.

RBC has been the topic of several recent analyst reports. Truist Financial boosted their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research report on Friday, November 22nd.

Insider Activity at RBC Bearings

In related news, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $287.52, for a total value of $3,260,764.32. Following the sale, the chief executive officer now directly owns 320,053 shares in the company, valued at $92,021,638.56. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 34,127 shares of company stock worth $9,839,707 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of RBC. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period. DT Investment Partners LLC acquired a new stake in shares of RBC Bearings during the second quarter worth about $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings during the 2nd quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings during the 2nd quarter valued at about $54,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at approximately $68,000.

RBC Bearings Trading Up 0.4 %

Shares of RBC opened at $340.16 on Wednesday. The stock has a 50 day simple moving average of $298.76 and a 200-day simple moving average of $289.10. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.68 billion, a PE ratio of 49.66, a PEG ratio of 4.63 and a beta of 1.51. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $343.66.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 EPS. On average, sell-side analysts predict that RBC Bearings will post 8.94 EPS for the current fiscal year.

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.