RBC Bearings Incorporated (NYSE:RBC) Receives $459.17 Consensus PT from Analysts

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $459.1667.

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $471.00 target price (up previously from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $445.16 on Monday. The firm has a 50-day simple moving average of $394.06 and a 200-day simple moving average of $384.13. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 56.06, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. RBC Bearings has a 52 week low of $290.56 and a 52 week high of $448.74.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The company had revenue of $156.21 million for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. On average, equities analysts predict that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in RBC Bearings by 0.4% in the second quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock valued at $1,133,844,000 after acquiring an additional 13,061 shares during the last quarter. Geneva Capital Management LLC increased its position in shares of RBC Bearings by 7.4% during the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock worth $243,667,000 after purchasing an additional 43,812 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after purchasing an additional 211,093 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RBC Bearings by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after purchasing an additional 21,972 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in RBC Bearings by 2.0% during the 1st quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock worth $175,515,000 after buying an additional 10,531 shares during 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.