RBC Bearings’ (RBC) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of RBC Bearings (NYSE:RBC) in a report published on Tuesday morning,RTT News reports.

Several other research analysts also recently issued reports on RBC. Truist Financial lifted their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Stock Up 0.4 %

RBC stock opened at $340.16 on Tuesday. 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 company’s 50-day moving average price is $298.76 and its 200 day moving average price is $289.10. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $343.66. The company has a market cap of $10.68 billion, a P/E ratio of 49.71, a P/E/G ratio of 4.63 and a beta of 1.51.

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

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at $83,597,727.60. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 34,127 shares of company stock valued at $9,839,707. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. UMB Bank n.a. increased its stake in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. DT Investment Partners LLC acquired a new position in shares of RBC Bearings during the 2nd quarter valued at about $35,000. Opal Wealth Advisors LLC acquired a new position in shares of RBC Bearings during the 2nd quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new position in shares of RBC Bearings during the 2nd quarter worth about $54,000. Finally, Blue Trust Inc. boosted its position in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 shares during the last quarter.

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.