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

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $325.33.

A number of brokerages recently weighed in on RBC. Truist Financial increased their price target on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a research note on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th.

RBC Bearings Price Performance

Shares of RBC stock opened at $306.15 on Thursday. The firm’s 50 day moving average price is $317.58 and its two-hundred day moving average price is $298.09. 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 cap of $9.62 billion, a PE ratio of 44.69, a PEG ratio of 4.04 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data 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). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts forecast that RBC Bearings will post 8.94 EPS for the current year.

Institutional Investors Weigh In On RBC Bearings

Institutional investors have recently bought and sold shares of the company. Argent Capital Management LLC raised its holdings in shares of RBC Bearings by 33.0% in the fourth quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company’s stock valued at $1,352,000 after purchasing an additional 1,123 shares during the last quarter. Park Avenue Securities LLC increased its stake in RBC Bearings by 33.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock valued at $525,000 after buying an additional 441 shares during the last quarter. Oak Thistle LLC lifted its position in RBC Bearings by 21.9% during the 4th quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company’s stock worth $898,000 after buying an additional 540 shares in the last quarter. PFW Advisors LLC acquired a new position in shares of RBC Bearings during the 4th quarter worth about $374,000. Finally, Douglas Lane & Associates LLC grew its holdings in shares of RBC Bearings by 17.0% in the 4th quarter. Douglas Lane & Associates LLC now owns 147,452 shares of the industrial products company’s stock valued at $44,109,000 after acquiring an additional 21,379 shares in the last quarter.

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.