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

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $275.86.

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial increased their target price on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th.

RBC Bearings Price Performance

Shares of RBC stock opened at $245.03 on Friday. The firm has a fifty day moving average of $262.59 and a two-hundred day moving average of $258.66. The firm has a market cap of $6.90 billion, a P/E ratio of 40.97, a P/E/G ratio of 4.65 and a beta of 1.45. RBC Bearings has a 1-year low of $195.18 and a 1-year high of $288.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The firm had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. As a group, research analysts anticipate that RBC Bearings will post 8.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the transaction, the chief operating officer now owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in RBC Bearings by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,711,824 shares of the industrial products company’s stock valued at $772,572,000 after acquiring an additional 17,286 shares during the period. Wasatch Advisors LP increased its holdings in shares of RBC Bearings by 1.6% during the first quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock valued at $483,369,000 after purchasing an additional 28,749 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of RBC Bearings by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock valued at $166,926,000 after purchasing an additional 99,066 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of RBC Bearings by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 703,997 shares of the industrial products company’s stock valued at $190,326,000 after purchasing an additional 8,450 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in RBC Bearings by 0.5% in the fourth quarter. Geneva Capital Management LLC now owns 585,988 shares of the industrial products company’s stock worth $166,942,000 after purchasing an additional 2,668 shares during the period.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.