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

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $560.50.

RBC has been the topic of several analyst reports. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. KeyCorp lifted their price objective on RBC Bearings from $535.00 to $595.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Truist Financial increased their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a research report on Friday, February 6th.

RBC Bearings Stock Performance

Shares of RBC stock opened at $553.07 on Wednesday. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 65.07, a PEG ratio of 3.11 and a beta of 1.52. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $490.35 and its 200-day moving average price is $434.30. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $563.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that RBC Bearings will post 9.16 EPS for the current year.

Institutional Trading of RBC Bearings

A number of institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership acquired a new stake in RBC Bearings in the second quarter valued at approximately $157,190,000. Norges Bank bought a new position in shares of RBC Bearings in the 4th quarter worth $175,909,000. Northwestern Mutual Wealth Management Co. grew its position in RBC Bearings by 39,846.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock valued at $83,295,000 after purchasing an additional 185,284 shares during the period. Cartenna Capital LP bought a new stake in RBC Bearings during the 4th quarter valued at $76,233,000. Finally, Invesco Ltd. raised its holdings in RBC Bearings by 60.5% during the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after buying an additional 143,710 shares during the last quarter.

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.