RBC Bearings (NYSE:RBC) Upgraded at Guggenheim

Guggenheim upgraded shares of RBC Bearings (NYSE:RBC) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks reports.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a report on Tuesday, August 4th. Raymond James Financial raised RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target for the company in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada set a $600.00 price objective on shares of RBC Bearings in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.44.

RBC Bearings Stock Up 0.3%

Shares of NYSE:RBC opened at $485.38 on Monday. RBC Bearings has a one year low of $364.50 and a one year high of $667.69. The company has a 50 day moving average of $539.63 and a 200-day moving average of $568.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 47.96, a P/E/G ratio of 2.59 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.46. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The business had revenue of $519.50 million for the quarter, compared to analyst estimates of $508.92 million. During the same period in the prior year, the business posted $2.84 earnings per share. RBC Bearings’s revenue was up 19.2% compared to the same quarter last year. On average, sell-side analysts forecast that RBC Bearings will post 14.12 earnings per share for the current year.

Insider Transactions at RBC Bearings

In other news, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $657.94, for a total transaction of $148,036.50. Following the sale, the vice president owned 2,378 shares of the company’s stock, valued at $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the transaction, the director owned 7,254 shares in the company, valued at $4,614,341.94. This trade represents a 7.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC bought a new stake in shares of RBC Bearings during the first quarter worth $27,000. Millstone Evans Group LLC lifted its position in RBC Bearings by 45.3% in the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 24 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its stake in RBC Bearings by 49.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 34 shares during the period. Larson Financial Group LLC boosted its stake in RBC Bearings by 45.1% in the 4th quarter. Larson Financial Group LLC now owns 119 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of RBC Bearings by 82.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 64 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.

The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.