RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBCGet Free Report) have received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $275.86.

Several equities research analysts have recently weighed in on RBC shares. Bank of America raised RBC Bearings from an “underperform” rating to a “buy” rating and increased their price objective for the company from $230.00 to $280.00 in a research report on Wednesday, November 29th. Citigroup upped their target price on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Truist Financial upped their target price on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group upped their target price on RBC Bearings from $229.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, December 14th.

Get Our Latest Stock Analysis on RBC Bearings

RBC Bearings Stock Up 0.9 %

RBC opened at $265.74 on Wednesday. RBC Bearings has a 1-year low of $195.18 and a 1-year high of $288.16. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 5.57 and a beta of 1.45. The business has a 50 day moving average of $269.48 and a 200-day moving average of $255.46.

RBC Bearings (NYSE:RBCGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The business had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. As a group, sell-side analysts anticipate that RBC Bearings will post 8.1 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 300 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $277.80, for a total transaction of $83,340.00. Following the completion of the transaction, the director now directly owns 6,800 shares in the company, valued at $1,889,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the sale, the chief operating officer now owns 121,935 shares in the company, valued at $32,583,470.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael H. Ambrose sold 300 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $277.80, for a total value of $83,340.00. Following the sale, the director now owns 6,800 shares in the company, valued at approximately $1,889,040. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of RBC Bearings

Several large investors have recently made changes to their positions in RBC. BlackRock Inc. bought a new stake in shares of RBC Bearings during the first quarter worth $556,927,000. Price T Rowe Associates Inc. MD bought a new position in RBC Bearings in the first quarter valued at about $483,093,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in RBC Bearings in the first quarter valued at about $481,554,000. JPMorgan Chase & Co. bought a new position in RBC Bearings in the first quarter valued at about $139,246,000. Finally, Geode Capital Management LLC bought a new position in RBC Bearings in the first quarter valued at about $127,316,000.

RBC Bearings Company Profile

(Get Free Report

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.

See Also

Analyst Recommendations for RBC Bearings (NYSE:RBC)

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