RBC Bearings (NYSE:RBC) Price Target Raised to $351.00

RBC Bearings (NYSE:RBC) had its price objective boosted by Truist Financial from $347.00 to $351.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also commented on RBC. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a report on Friday, November 22nd. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price objective for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $325.33.

RBC Bearings Stock Up 1.2 %

RBC stock opened at $309.56 on Tuesday. The stock has a fifty day moving average of $317.37 and a 200-day moving average of $298.15. RBC Bearings has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 4.04 and a beta of 1.57. 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 (NYSE:RBC) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). The business 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 9.88% and a net margin of 14.06%. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 EPS. As a group, equities research analysts predict that RBC Bearings will post 8.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RBC. UMB Bank n.a. lifted 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 purchasing an additional 75 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at $54,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings during the 4th quarter worth $82,000. Finally, Blue Trust Inc. grew its position in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 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.