RBC Bearings Incorporated (NYSE:RBC) Receives $324.67 Consensus Target Price from Brokerages

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $324.67.

RBC has been the subject of several recent research reports. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. 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 research report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Truist Financial boosted their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RBC. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC purchased a new position in RBC Bearings in the 2nd quarter worth approximately $35,000. Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings in the 2nd quarter worth $54,000. Strategic Financial Concepts LLC purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the last quarter.

RBC Bearings Stock Performance

Shares of RBC stock opened at $320.58 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 46.80, a P/E/G ratio of 4.50 and a beta of 1.55. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $346.77. The firm’s 50-day simple moving average is $311.10 and its two-hundred day simple moving average is $294.59.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data 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). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. During the same quarter in the previous year, the company posted $2.07 EPS. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings will post 8.94 earnings per share for the current 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.