Several other analysts have also recently issued reports on the company. TheStreet cut RBC Bearings from a “b-” rating to a “c+” rating in a research note on Thursday, April 28th. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research note on Monday, February 14th. Bank of America began coverage on shares of RBC Bearings in a report on Thursday, February 17th. They set a “buy” rating for the company. Wells Fargo & Company began coverage on RBC Bearings in a report on Friday, March 11th. They set an “overweight” rating and a $235.00 price target for the company. Finally, Royal Bank of Canada started coverage on RBC Bearings in a research note on Thursday, February 17th. They issued a “buy” rating and a $218.00 price target for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings presently has an average rating of “Buy” and an average price target of $227.00.
Shares of RBC Bearings stock traded up $16.57 on Friday, reaching $185.82. The stock had a trading volume of 195,644 shares, compared to its average volume of 146,837. The business’s 50 day moving average is $177.52 and its two-hundred day moving average is $190.57. The company has a market cap of $5.37 billion, a P/E ratio of 89.77 and a beta of 1.35. RBC Bearings has a 1 year low of $152.90 and a 1 year high of $250.52. The company has a current ratio of 2.88, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74.
In other RBC Bearings news, VP Patrick S. Bannon sold 6,306 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $180.07, for a total value of $1,135,521.42. Following the sale, the vice president now owns 12,591 shares in the company, valued at approximately $2,267,261.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Snyder Capital Management L P boosted its holdings in RBC Bearings by 6.3% in the fourth quarter. Snyder Capital Management L P now owns 451,885 shares of the industrial products company’s stock valued at $91,267,000 after purchasing an additional 26,595 shares during the period. Advisor Group Holdings Inc. lifted its position in RBC Bearings by 84.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,098 shares of the industrial products company’s stock worth $2,443,000 after acquiring an additional 5,529 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of RBC Bearings by 35.3% during the fourth quarter. New York State Common Retirement Fund now owns 36,872 shares of the industrial products company’s stock worth $7,447,000 after purchasing an additional 9,616 shares during the period. First Trust Advisors LP raised its holdings in RBC Bearings by 12.6% during the fourth quarter. First Trust Advisors LP now owns 47,633 shares of the industrial products company’s stock worth $9,620,000 after purchasing an additional 5,341 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of RBC Bearings during the 3rd quarter worth approximately $10,610,000.
About RBC Bearings (Get Rating)
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates through four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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