RBC Bearings (NYSE:RBC) Stock Rating Upgraded by Zacks Research

RBC Bearings (NYSE:RBC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on RBC. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, KeyCorp upped their target price on shares of RBC Bearings from $535.00 to $595.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $560.50.

RBC Bearings Stock Down 0.1%

Shares of NYSE:RBC opened at $549.96 on Wednesday. The company’s fifty day moving average is $483.64 and its two-hundred day moving average is $430.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. RBC Bearings has a 1-year low of $297.28 and a 1-year high of $563.51. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 64.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.52.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. Equities analysts anticipate that RBC Bearings will post 9.16 EPS for the current year.

Hedge Funds Weigh In On RBC Bearings

Large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its holdings in shares of RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 33 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings during the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its stake in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in RBC Bearings during the 3rd quarter valued at $36,000.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.