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

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $325.33.

RBC has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America cut shares of 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 research report on Thursday, November 21st. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a report on Friday, November 22nd. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th.

RBC Bearings Stock Performance

NYSE RBC opened at $306.15 on Thursday. The firm has a market capitalization of $9.62 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 4.04 and a beta of 1.57. 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 firm’s fifty day moving average price is $317.58 and its two-hundred day moving average price is $298.09. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $346.77.

RBC Bearings (NYSE:RBC) last issued 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). 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 the consensus estimate of $403.89 million. During the same period in the previous year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts anticipate that RBC Bearings will post 8.94 EPS for the current year.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its position in 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 acquiring an additional 75 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings during the 2nd quarter worth approximately $54,000. Blue Trust Inc. grew its position in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of RBC Bearings by 80.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 129 shares during the period. Finally, Quarry LP raised its position in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after buying an additional 271 shares in the last quarter.

About RBC Bearings

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.