KeyCorp Forecasts Strong Price Appreciation for RBC Bearings (NYSE:RBC) Stock

RBC Bearings (NYSE:RBC) had its target price increased by analysts at KeyCorp from $595.00 to $680.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 19.72% from the stock’s previous close.

Several other research firms also recently issued reports on RBC. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Stock Performance

Shares of RBC opened at $568.01 on Monday. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 66.82, a price-to-earnings-growth ratio of 3.30 and a beta of 1.47. The company’s fifty day moving average is $512.84 and its 200-day moving average is $445.85. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $589.16.

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. The business had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. RBC Bearings’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 EPS. Equities analysts expect that RBC Bearings will post 9.16 EPS for the current fiscal year.

Institutional Trading of RBC Bearings

A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the 1st quarter worth about $26,000. SBI Securities Co. Ltd. lifted its stake in shares of RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the period. Larson Financial Group LLC grew its position in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings during the fourth quarter valued at about $35,000. Finally, Root Financial Partners LLC acquired a new position in RBC Bearings in the 3rd quarter valued at approximately $36,000.

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.