Truist Financial Reiterates “Buy” Rating for RBC Bearings (NYSE:RBC)

RBC Bearings (NYSE:RBC)‘s stock had its “buy” rating reissued by Truist Financial in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $471.00 price objective on the industrial products company’s stock, up from their prior price objective of $455.00. Truist Financial’s price objective would indicate a potential upside of 10.33% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. KeyCorp upped their price target on RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average target price of $431.67.

RBC Bearings Stock Performance

RBC Bearings stock opened at $426.89 on Monday. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. RBC Bearings has a 1 year low of $283.47 and a 1 year high of $432.89. The company has a market cap of $13.47 billion, a PE ratio of 53.76, a PEG ratio of 3.16 and a beta of 1.71. The company’s 50-day moving average is $388.48 and its two-hundred day moving average is $379.72.

RBC Bearings (NYSE:RBC) last released its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. The company had revenue of $156.21 million for the quarter. Equities analysts anticipate that RBC Bearings will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John J. Feeney sold 105 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the sale, the vice president directly owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the 1st quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in shares of RBC Bearings during the 3rd quarter worth approximately $36,000. Hantz Financial Services Inc. grew its stake in shares of RBC Bearings by 1,257.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of RBC Bearings during the 3rd quarter worth approximately $38,000.

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.