RBC Bearings Incorporated (NYSE:RBC) Receives $574.67 Consensus Price Target from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have received a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $574.6667.

A number of research analysts recently weighed in on RBC shares. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. KeyCorp boosted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th.

RBC Bearings Trading Down 0.5%

NYSE RBC opened at $544.00 on Friday. 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 has a fifty day simple moving average of $532.29 and a 200 day simple moving average of $456.98. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $589.16. The firm has a market capitalization of $17.20 billion, a P/E ratio of 64.00, a PEG ratio of 3.07 and a beta of 1.47.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of RBC Bearings by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock worth $1,133,844,000 after purchasing an additional 13,061 shares during the period. State Street Corp boosted its holdings in shares of RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after buying an additional 4,568 shares during the last quarter. Artisan Partners Limited Partnership grew its position in RBC Bearings by 51.7% during the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after buying an additional 211,093 shares during the period. Geode Capital Management LLC increased its holdings in RBC Bearings by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after buying an additional 48,419 shares during the last quarter. Finally, Maren Capital LLC increased its holdings in RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after buying an additional 6,373 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.