RBC Bearings (NYSE:RBC) Stock Price Expected to Rise, Truist Financial Analyst Says

RBC Bearings (NYSE:RBC) had its target price boosted by Truist Financial from $351.00 to $410.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on RBC. KeyCorp boosted their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $338.50.

RBC Bearings Stock Up 5.2 %

Shares of NYSE:RBC opened at $366.74 on Monday. RBC Bearings has a one year low of $240.36 and a one year high of $371.00. The firm has a fifty day moving average price of $317.49 and a two-hundred day moving average price of $301.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 4.81 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. RBC Bearings’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 EPS. Analysts anticipate that RBC Bearings will post 8.91 EPS for the current fiscal year.

Institutional Trading of RBC Bearings

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

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.