RBC Bearings Incorporated (NYSE:RBC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $324.67.

Several research firms have recently weighed in on RBC. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial boosted their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Friday, November 22nd. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000. Strategic Financial Concepts LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $68,000. Benjamin F. Edwards & Company Inc. raised its position in RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 129 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $298.03 on Thursday. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 4.50 and a beta of 1.57. RBC Bearings has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a 50 day simple moving average of $316.43 and a two-hundred day simple moving average of $297.14. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts predict that RBC Bearings will post 8.94 earnings per share for the current year.

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.