RBC Bearings Incorporated (NYSE:RBC) Receives $324.67 Average Price Target from Brokerages

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

Several equities research analysts recently commented on RBC shares. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial raised their price objective 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. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research report on Friday, November 22nd. Finally, Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st.

RBC Bearings Price Performance

RBC Bearings stock opened at $298.34 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $346.77. The stock has a market capitalization of $9.37 billion, a P/E ratio of 43.55, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. The stock has a fifty day moving average of $317.24 and a 200-day moving average of $297.85.

RBC Bearings (NYSE:RBC) last posted 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). 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 analyst estimates of $403.89 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts expect that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its stake in shares of RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after acquiring an additional 2,584 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after buying an additional 8,725 shares during the period. Holocene Advisors LP raised its holdings in RBC Bearings by 69.4% during the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares during the last quarter. Finally, State Street Corp boosted its position in RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 shares during the period.

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.