RBC Bearings Incorporated (NYSE:RBC) Stock Has Average Price Target of $615.44

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $615.44.

RBC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a research note on Tuesday, August 4th. Truist Financial raised their price target on shares of RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $600.00 price objective on shares of RBC Bearings in a report on Monday, September 14th. Guggenheim began coverage on shares of RBC Bearings in a research report on Monday, September 14th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th.

Key RBC Bearings News

Here are the key news stories impacting RBC Bearings this week:

• Positive Sentiment: RBC Bearings reported adjusted earnings of $3.74 per share, exceeding the consensus estimate of $3.53–$3.55 and rising from $2.88 a year earlier. RBC Bearings Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Quarterly revenue increased 15.2% year over year to $524.6 million, ahead of the approximately $514 million analyst estimate, indicating continued demand for the company’s engineered industrial and aerospace products. RBC Bearings Reports Q2 Revenue Above Estimate
• Positive Sentiment: Management issued a fiscal third-quarter outlook calling for double-digit revenue growth. Commentary also highlighted a backlog of roughly $2.4 billion, supporting visibility into future sales. RBC Bearings Sees Double-Digit Revenue Growth
• Neutral Sentiment: The earnings release showed a 16.4% net margin and 12.06% return on equity, while analysts expect approximately $14.03 in earnings per share for the current fiscal year. RBC Bearings Fiscal Second-Quarter Results
• Negative Sentiment: Despite the results and outlook beat, RBC trades at a relatively high trailing P/E of about 45.8. The elevated valuation may have led investors to demand an even stronger forecast, contributing to the share-price decline as the market reacted to the release.

RBC Bearings Trading Up 0.2%

Shares of NYSE RBC opened at $463.07 on Monday. RBC Bearings has a fifty-two week low of $406.90 and a fifty-two week high of $667.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 3.13. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 2.49 and a beta of 1.39. The business’s 50 day moving average price is $496.10 and its 200-day moving average price is $551.17.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.21. The company had revenue of $524.60 million during the quarter, compared to analysts’ expectations of $513.95 million. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. RBC Bearings’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 EPS. On average, sell-side analysts expect that RBC Bearings will post 14.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in RBC Bearings during the 3rd quarter valued at $25,000. Western Wealth Management LLC purchased a new stake in shares of RBC Bearings in the 1st quarter worth $27,000. Millstone Evans Group LLC grew its position in shares of RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock worth $42,000 after buying an additional 24 shares in the last quarter. Basecamp Wealth Advisors LLC grew its position in shares of RBC Bearings by 49.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after buying an additional 34 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of RBC Bearings by 325.9% during the 3rd quarter. Covestor Ltd now owns 115 shares of the industrial products company’s stock worth $58,000 after buying an additional 88 shares in the last quarter.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.