RBC Bearings Incorporated (NYSE:RBC) Receives Average Recommendation of “Moderate Buy” from Analysts

RBC Bearings Incorporated (NYSE:RBC) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $463.1667.

RBC has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Truist Financial reiterated a “buy” rating and set a $471.00 price target (up previously from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th.

RBC Bearings Stock Up 0.0%

NYSE RBC opened at $456.50 on Tuesday. RBC Bearings has a twelve month low of $290.56 and a twelve month high of $465.80. The stock has a market cap of $14.43 billion, a PE ratio of 55.74, a PEG ratio of 3.12 and a beta of 1.53. The firm has a 50-day simple moving average of $436.43 and a 200 day simple moving average of $403.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 3.18.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The firm had revenue of $156.21 million during the quarter. On average, research analysts forecast that RBC Bearings will post 9.16 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steven H. Kaplan sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at approximately $885,557. This represents a 25.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Machina Capital S.A.S. bought a new position in shares of RBC Bearings in the 2nd quarter valued at about $352,000. HB Wealth Management LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $237,000. Jump Financial LLC acquired a new position in RBC Bearings in the first quarter valued at approximately $254,000. Frontier Capital Management Co. LLC bought a new position in RBC Bearings in the second quarter valued at approximately $39,818,000. Finally, Dakota Wealth Management acquired a new stake in RBC Bearings during the 2nd quarter worth $628,000.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.