Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $324.67

RBC Bearings Incorporated (NYSE:RBC) has earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $324.67.

RBC has been the topic of a number of recent analyst reports. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a report on Friday, November 22nd.

Institutional Trading of RBC Bearings

Hedge funds have recently bought and sold shares of the company. Marco Investment Management LLC increased its stake in shares of RBC Bearings by 6.6% in the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 50 shares during the period. Raymond James Trust N.A. grew its holdings in RBC Bearings by 2.6% in the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after buying an additional 53 shares in the last quarter. SkyView Investment Advisors LLC increased its position in RBC Bearings by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 58 shares during the period. Legacy Advisors LLC raised its stake in RBC Bearings by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after acquiring an additional 61 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares during the period.

RBC Bearings Trading Down 0.6 %

NYSE:RBC opened at $310.20 on Friday. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55. RBC Bearings has a one year low of $240.36 and a one year high of $346.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The business’s 50-day simple moving average is $312.35 and its 200 day simple moving average is $294.82.

RBC Bearings (NYSE:RBC) last released 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 business had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 earnings per share. As a group, sell-side analysts predict that RBC Bearings will post 8.94 earnings per share for the current fiscal 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.