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

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $348.50.

Several research firms have issued reports on RBC. KeyCorp raised their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial boosted their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Morgan Stanley raised their target price on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now directly owns 6,728 shares of the company’s stock, valued at $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently bought and sold shares of the business. Torray Investment Partners LLC lifted its position in RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC raised its stake in shares of RBC Bearings by 1.6% in the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 32 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its position in shares of RBC Bearings by 3.4% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 46 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of RBC Bearings by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 47 shares during the last quarter. Finally, Norden Group LLC increased its holdings in shares of RBC Bearings by 6.7% in the fourth quarter. Norden Group LLC now owns 780 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 49 shares in the last quarter.

RBC Bearings Trading Down 1.0 %

Shares of RBC Bearings stock opened at $361.80 on Monday. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 49.70, a PEG ratio of 4.81 and a beta of 1.58. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $372.51. The company’s fifty day simple moving average is $319.68 and its 200-day simple moving average is $303.74. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

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.