Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $574.67

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $574.6667.

A number of research analysts have recently weighed in on RBC shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a report on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. Truist Financial increased their price objective on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th.

RBC Bearings Trading Up 0.7%

Shares of NYSE:RBC opened at $599.08 on Thursday. The business’s 50-day moving average is $552.50 and its 200 day moving average is $477.88. RBC Bearings has a 1 year low of $310.95 and a 1 year high of $599.72. The firm has a market capitalization of $18.94 billion, a P/E ratio of 70.48, a P/E/G ratio of 2.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. On average, research analysts predict that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RBC. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings in the first quarter valued at about $26,000. SBI Securities Co. Ltd. grew its holdings in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares during the period. Larson Financial Group LLC grew its holdings in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in RBC Bearings during the fourth quarter worth about $35,000. Finally, Root Financial Partners LLC acquired a new stake in RBC Bearings during the third quarter worth about $36,000.

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.