RBC Bearings Incorporated (NYSE:RBC) Receives $584.00 Average PT from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $584.00.

RBC has been the subject of several analyst reports. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley boosted their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Truist Financial reiterated a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 15th.

Insider Activity at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John J. Feeney sold 225 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the sale, the vice president directly owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,425 shares of company stock valued at $885,400 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. acquired a new position in RBC Bearings in the first quarter valued at $26,000. Western Wealth Management LLC purchased a new position in RBC Bearings during the first quarter worth about $27,000. SBI Securities Co. Ltd. raised its holdings in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Larson Financial Group LLC lifted its position in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in RBC Bearings in the fourth quarter valued at about $35,000.

RBC Bearings Price Performance

RBC Bearings stock opened at $569.15 on Friday. The stock has a market cap of $18.01 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 3.30 and a beta of 1.40. The company has a fifty day simple moving average of $598.27 and a 200-day simple moving average of $564.19. RBC Bearings has a 12-month low of $364.50 and a 12-month high of $667.69. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. During the same quarter in the prior year, the company posted $2.83 earnings per share. RBC Bearings’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts expect that RBC Bearings will post 13.59 EPS for the current fiscal year.

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.