RBC Bearings (NYSE:RBC) Given New $395.00 Price Target at KeyCorp

RBC Bearings (NYSE:RBC) had its target price upped by investment analysts at KeyCorp from $375.00 to $395.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target would indicate a potential upside of 7.24% from the stock’s previous close.

Several other research analysts have also issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. 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. Finally, Truist Financial boosted their price objective on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $348.50.

RBC Bearings Trading Up 0.3 %

NYSE:RBC opened at $368.32 on Monday. The firm has a 50 day moving average of $318.05 and a 200 day moving average of $302.36. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $371.00. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 4.81 and a beta of 1.58.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its position in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period. R Squared Ltd acquired a new stake in shares of RBC Bearings during the 4th quarter valued at about $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings in the 4th quarter valued at about $38,000. Harbor Investment Advisory LLC acquired a new position in RBC Bearings in the 4th quarter worth about $82,000. Finally, Blue Trust Inc. boosted its position in RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 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.