RBC Bearings Incorporated (NYSE:RBC) Receives $387.50 Average Target Price from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $394.00.

RBC has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial boosted their price target on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday.

Insider Buying and Selling

In other news, COO Daniel A. Bergeron sold 3,718 shares of RBC Bearings stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $382.21, for a total value of $1,421,056.78. Following the transaction, the chief operating officer now directly owns 111,134 shares of the company’s stock, valued at $42,476,526.14. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael J. Hartnett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $116,944,875. The trade was a 1.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,378 shares of company stock valued at $25,625,987. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC raised its stake in shares of RBC Bearings by 50.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 892 shares during the period. Deutsche Bank AG increased its holdings in RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 49 shares in the last quarter. Bank of New York Mellon Corp raised its position in RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after purchasing an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of RBC Bearings by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock worth $66,247,000 after purchasing an additional 62,706 shares in the last quarter. Finally, Callan Family Office LLC boosted its position in shares of RBC Bearings by 251.7% in the fourth quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock worth $723,000 after buying an additional 1,729 shares during the period.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $369.67 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The business’s fifty day moving average price is $350.35 and its two-hundred day moving average price is $337.77. The stock has a market cap of $11.61 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings has a one year low of $260.53 and a one year high of $386.41.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.13. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.47 earnings per share. On average, analysts forecast that RBC Bearings will post 9.16 EPS for the current fiscal year.

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.