RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of “Buy” by Analysts

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

A number of brokerages have recently weighed in on RBC. Morgan Stanley reiterated an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a research report on Monday, February 9th.

Institutional Trading of RBC Bearings

Several large investors have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC acquired a new position in shares of RBC Bearings during the 2nd quarter valued at $39,818,000. Principal Financial Group Inc. increased its position in shares of RBC Bearings by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock valued at $43,495,000 after purchasing an additional 4,776 shares during the period. Faithward Advisors LLC acquired a new position in shares of RBC Bearings during the 3rd quarter valued at $2,826,000. EULAV Asset Management increased its position in shares of RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock valued at $30,677,000 after purchasing an additional 13,400 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of RBC Bearings by 263.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock valued at $1,788,000 after purchasing an additional 2,709 shares during the period.

RBC Bearings Stock Up 5.2%

Shares of RBC Bearings stock opened at $581.99 on Thursday. 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’s 50 day simple moving average is $548.85 and its 200-day simple moving average is $474.90. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of 68.47, a PEG ratio of 2.64 and a beta of 1.49. RBC Bearings has a twelve month low of $303.73 and a twelve month high of $589.16.

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