RBC Bearings Incorporated (NYSE:RBC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $275.86.

A number of research firms recently weighed in on RBC. Citigroup increased their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial increased their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th.

Insider Transactions at RBC Bearings

In other news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently modified their holdings of RBC. First Capital Advisors Group LLC. bought a new position in shares of RBC Bearings during the second quarter valued at approximately $26,000. 1832 Asset Management L.P. bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $30,000. LWM Advisory Services LLC bought a new position in shares of RBC Bearings during the third quarter valued at approximately $31,000. Finally, Compass Wealth Management LLC bought a new position in shares of RBC Bearings during the first quarter valued at approximately $34,000.

RBC Bearings Stock Up 0.9 %

Shares of NYSE:RBC opened at $244.86 on Friday. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. RBC Bearings has a 12 month low of $195.18 and a 12 month high of $288.16. The company has a 50-day moving average price of $265.11 and a 200 day moving average price of $258.41. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 4.63 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The business had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. As a group, equities research analysts predict that RBC Bearings will post 8.1 earnings per share for the current year.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.