Analysts Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $387.50

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $387.50.

RBC has been the subject of a number of research reports. Morgan Stanley restated an “overweight” rating and set a $415.00 target price (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial reissued a “buy” rating and issued a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 31,282 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the sale, the chief operating officer now directly owns 111,134 shares in the company, valued at $42,262,037.52. This represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the transaction, the director now directly owns 2,499 shares of the company’s stock, valued at approximately $952,868.70. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,400 shares of company stock worth $13,469,496 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors have recently added to or reduced their stakes in RBC. Norges Bank bought a new position in RBC Bearings in the 4th quarter valued at $88,184,000. Raymond James Financial Inc. bought a new stake in RBC Bearings in the fourth quarter valued at approximately $71,324,000. Vanguard Group Inc. grew its holdings in RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock worth $879,149,000 after acquiring an additional 229,466 shares during the last quarter. GAMMA Investing LLC raised its position in RBC Bearings by 38,860.9% during the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company’s stock valued at $64,813,000 after purchasing an additional 200,911 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in RBC Bearings by 32.6% in the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock worth $159,998,000 after acquiring an additional 131,614 shares during the period.

RBC Bearings Price Performance

RBC stock opened at $377.91 on Friday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $11.87 billion, a P/E ratio of 51.91, a PEG ratio of 4.42 and a beta of 1.66. RBC Bearings has a twelve month low of $260.53 and a twelve month high of $386.41. The business has a 50 day simple moving average of $346.43 and a 200-day simple moving average of $337.09.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. During the same quarter in the previous year, the company posted $2.47 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that RBC Bearings will post 9.16 EPS for the current year.

About RBC Bearings

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.