RBC Bearings Incorporated (NYSE:RBC) Receives $324.67 Consensus Price Target from Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $324.67.

RBC has been the subject of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial increased their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a report on Friday, November 22nd. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its stake in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. DT Investment Partners LLC bought a new stake in RBC Bearings during the second quarter worth $35,000. Canada Pension Plan Investment Board purchased a new stake in RBC Bearings in the 2nd quarter valued at $54,000. Strategic Financial Concepts LLC bought a new position in RBC Bearings during the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the last quarter.

RBC Bearings Stock Performance

Shares of RBC stock opened at $320.58 on Friday. The company has a market capitalization of $10.07 billion, a P/E ratio of 46.80, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $346.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company’s 50 day moving average price is $311.10 and its two-hundred day moving average price is $294.59.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $2.07 earnings per share. On average, analysts expect that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

RBC Bearings Company Profile

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