RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $324.67.

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the stock from $330.00 to $335.00 in a report on Thursday. Finally, KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research report on Friday.

RBC Bearings Price Performance

Shares of RBC stock opened at $336.82 on Wednesday. The company has a market capitalization of $10.58 billion, a P/E ratio of 49.17, a P/E/G ratio of 3.71 and a beta of 1.51. 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 has a 12 month low of $240.36 and a 12 month high of $337.19. The stock has a 50 day moving average of $297.72 and a two-hundred day moving average of $288.60.

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

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This represents a 25.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now owns 294,120 shares in the company, valued at $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,327 shares of company stock worth $11,068,921. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RBC Bearings

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in RBC Bearings by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares during the last quarter. Vanguard Group Inc. lifted its holdings in RBC Bearings by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after buying an additional 19,574 shares during the period. CWM LLC boosted its stake in RBC Bearings by 41.3% in the second quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock valued at $2,815,000 after acquiring an additional 3,051 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after acquiring an additional 13,395 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of RBC Bearings during the 2nd quarter valued at $2,380,000.

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.