Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Price Target at $560.50

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $560.50.

A number of analysts have weighed in on RBC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Morgan Stanley reiterated an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. KeyCorp upped their price objective on shares of RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Finally, Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the company from $390.00 to $500.00 in a research report on Thursday, November 6th.

RBC Bearings Stock Up 1.4%

RBC Bearings stock opened at $559.41 on Wednesday. The stock has a market cap of $17.69 billion, a PE ratio of 65.81, a P/E/G ratio of 3.15 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The stock’s fifty day moving average is $496.27 and its two-hundred day moving average is $437.47. RBC Bearings has a 1-year low of $297.28 and a 1-year high of $564.70.

RBC Bearings (NYSE:RBC) last issued its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.34 EPS. On average, sell-side analysts expect that RBC Bearings will post 9.16 EPS for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the 1st quarter valued at $26,000. AQR Capital Management LLC increased its stake in RBC Bearings by 27.8% in the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 282 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after buying an additional 303 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after buying an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of RBC Bearings by 2.0% during the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after buying an additional 4,253 shares during the last quarter.

About RBC Bearings

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.