RBC Bearings (NYSE:RBC) Price Target Raised to $351.00 at Truist Financial

RBC Bearings (NYSE:RBC) had its price objective increased by Truist Financial from $347.00 to $351.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also weighed in on RBC. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday, November 22nd. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average target price of $325.33.

RBC Bearings Trading Up 1.2 %

RBC stock opened at $309.56 on Tuesday. The company has a market capitalization of $9.72 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 4.04 and a beta of 1.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings has a one year low of $240.36 and a one year high of $346.77. The company’s 50 day moving average price is $317.37 and its two-hundred day moving average price is $298.15.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million during 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 for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 EPS. As a group, analysts predict that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBC. Dimensional Fund Advisors LP increased its position in RBC Bearings by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after purchasing an additional 64,217 shares during the period. Renaissance Technologies LLC bought a new stake in shares of RBC Bearings during the 2nd quarter valued at about $11,708,000. Bradley Foster & Sargent Inc. CT raised its stake in RBC Bearings by 16.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 137,660 shares of the industrial products company’s stock worth $37,138,000 after buying an additional 19,140 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in RBC Bearings by 19.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,301 shares of the industrial products company’s stock worth $621,000 after buying an additional 371 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in RBC Bearings during the 2nd quarter valued at approximately $607,000.

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.