RBC Bearings (NYSE:RBC) Earns “Outperform” Rating from William Blair

William Blair reissued their outperform rating on shares of RBC Bearings (NYSE:RBC) in a report published on Tuesday morning,RTT News reports.

A number of other research analysts have also recently issued reports on the stock. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price target for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. 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 research report on Friday, November 22nd. Finally, Truist Financial increased their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.67.

RBC Bearings Trading Down 0.1 %

NYSE:RBC opened at $339.66 on Tuesday. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 4.66 and a beta of 1.51. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $343.66. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $300.71 and a 200 day moving average of $289.93.

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

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 34,127 shares of company stock valued at $9,839,707 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently made changes to their positions in RBC. Russell Investments Group Ltd. grew its stake in RBC Bearings by 31.2% in the 1st quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 772 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in RBC Bearings by 60.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,195 shares of the industrial products company’s stock valued at $323,000 after buying an additional 448 shares in the last quarter. Comerica Bank boosted its holdings in RBC Bearings by 2.7% in the 1st quarter. Comerica Bank now owns 70,324 shares of the industrial products company’s stock worth $19,012,000 after buying an additional 1,836 shares during the last quarter. Atria Investments Inc increased its stake in RBC Bearings by 3.1% during the 1st quarter. Atria Investments Inc now owns 4,882 shares of the industrial products company’s stock worth $1,320,000 after buying an additional 145 shares in the last quarter. Finally, Keynote Financial Services LLC purchased a new stake in RBC Bearings during the 1st quarter worth approximately $218,000.

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.