RBC Bearings Incorporated (NYSE:RBC) Receives $287.67 Consensus Target Price from Brokerages

RBC Bearings Incorporated (NYSE:RBC) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $287.67.

A number of analysts have weighed in on RBC shares. Raymond James assumed coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. William Blair initiated coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They set an “outperform” rating for the company. Morgan Stanley upped their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group lifted their price objective on RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th.

RBC Bearings Trading Down 1.1 %

RBC opened at $285.70 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. RBC Bearings has a fifty-two week low of $214.14 and a fifty-two week high of $309.01. The company’s 50 day moving average price is $285.47 and its two-hundred day moving average price is $274.52. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 3.63 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.33. The firm had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. During the same quarter in the previous year, the company posted $1.98 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that RBC Bearings will post 8.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now owns 12,539 shares of the company’s stock, valued at $3,669,789.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $279.16, for a total value of $167,496.00. Following the transaction, the director now directly owns 6,728 shares in the company, valued at $1,878,188.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,800 shares of company stock worth $2,228,430. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in RBC Bearings in the 4th quarter valued at about $66,000. Truist Financial Corp boosted its position in shares of RBC Bearings by 1.0% during the fourth quarter. Truist Financial Corp now owns 39,026 shares of the industrial products company’s stock valued at $11,118,000 after buying an additional 370 shares during the last quarter. Retirement Systems of Alabama grew its holdings in RBC Bearings by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 36,427 shares of the industrial products company’s stock worth $10,378,000 after buying an additional 147 shares in the last quarter. Intrust Bank NA raised its position in RBC Bearings by 8.9% in the 4th quarter. Intrust Bank NA now owns 1,285 shares of the industrial products company’s stock valued at $366,000 after buying an additional 105 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in RBC Bearings by 3.0% during the 4th quarter. Victory Capital Management Inc. now owns 30,953 shares of the industrial products company’s stock valued at $8,818,000 after acquiring an additional 914 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.