Analysts Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $463.17

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $463.1667.

A number of equities research analysts have commented on RBC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd.

Insiders Place Their Bets

In other news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director owned 1,999 shares in the company, valued at $885,557. This trade represents a 25.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings in the first quarter valued at about $26,000. Larson Financial Group LLC boosted its stake in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the period. Root Financial Partners LLC bought a new stake in shares of RBC Bearings during the third quarter valued at approximately $36,000. Hantz Financial Services Inc. boosted its position in shares of RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 88 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 53 shares in the last quarter.

RBC Bearings Stock Performance

RBC stock opened at $449.30 on Tuesday. The stock’s 50 day simple moving average is $439.58 and its 200 day simple moving average is $404.92. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. RBC Bearings has a 12-month low of $290.56 and a 12-month high of $465.80. The stock has a market capitalization of $14.20 billion, a PE ratio of 54.86, a price-to-earnings-growth ratio of 3.07 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The firm had revenue of $156.21 million during the quarter. As a group, research analysts forecast that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.