RBC Bearings (NYSE:RBC) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of RBC Bearings Incorporated (NYSE:RBC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $466.99 and traded as high as $537.64. RBC Bearings shares last traded at $524.3420, with a volume of 173,315 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on RBC. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Zacks Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the company 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 given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The company has a 50 day moving average price of $541.81 and a 200 day moving average price of $466.99. The firm has a market cap of $16.58 billion, a PE ratio of 61.69, a PEG ratio of 2.99 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 for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The firm had revenue of $461.60 million for 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% on a year-over-year basis. During the same period last year, the firm posted $2.34 EPS. Sell-side analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in RBC Bearings by 0.5% in the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after purchasing an additional 4,568 shares during the period. Artisan Partners Limited Partnership boosted its holdings in RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after purchasing an additional 211,093 shares in the last quarter. Geode Capital Management LLC increased its position in RBC Bearings by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after purchasing an additional 48,419 shares during the period. Maren Capital LLC raised its stake in shares of RBC Bearings by 1.4% during the 4th 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 in the last quarter. Finally, Invesco Ltd. raised its stake in shares of RBC Bearings by 6.2% during the 4th quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company’s stock worth $181,514,000 after buying an additional 23,616 shares in the last quarter.

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.