RBC Bearings Incorporated (NYSE:RBC) Given Consensus Rating of “Moderate Buy” by Brokerages

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $489.1667.

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Finally, KeyCorp lifted their price target on shares of RBC Bearings from $475.00 to $535.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th.

RBC Bearings Stock Down 0.3%

Shares of NYSE:RBC opened at $503.52 on Friday. RBC Bearings has a fifty-two week low of $297.28 and a fifty-two week high of $511.40. The firm’s 50 day moving average price is $459.21 and its 200 day moving average price is $416.86. The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 61.48, a price-to-earnings-growth ratio of 3.37 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $455.30 million for the quarter, compared to the consensus estimate of $450.27 million. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. As a group, equities research analysts predict that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling at RBC Bearings

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

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently made changes to their positions in RBC. Artisan Partners Limited Partnership acquired a new position in RBC Bearings in the 2nd quarter valued at about $157,190,000. Norges Bank purchased a new position in shares of RBC Bearings in the 2nd quarter valued at approximately $137,078,000. Invesco Ltd. increased its holdings in shares of RBC Bearings by 60.5% in the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after purchasing an additional 143,710 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in shares of RBC Bearings during the second quarter worth approximately $39,818,000. Finally, First Trust Advisors LP lifted its holdings in shares of RBC Bearings by 36.4% during the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after purchasing an additional 94,203 shares during the period.

About RBC Bearings

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.