RBC Bearings (NYSE:RBC) Given New $680.00 Price Target at KeyCorp

RBC Bearings (NYSE:RBC) had its price objective lifted by analysts at KeyCorp from $595.00 to $680.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective suggests a potential upside of 17.39% from the company’s previous close.

Several other analysts have also commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a research report on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Morgan Stanley reissued an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. Finally, Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, RBC Bearings currently has an average rating of “Buy” and an average target price of $574.67.

RBC Bearings Stock Up 0.6%

Shares of NYSE:RBC traded up $3.33 during trading on Monday, hitting $579.25. 15,443 shares of the company were exchanged, compared to its average volume of 208,832. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. RBC Bearings has a 12-month low of $297.28 and a 12-month high of $581.87. The stock has a market capitalization of $18.32 billion, a P/E ratio of 68.58, a PEG ratio of 3.24 and a beta of 1.47. The firm’s 50 day moving average price is $508.11 and its 200-day moving average price is $443.34.

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

Institutional Trading of RBC Bearings

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings during the first quarter valued at $26,000. AQR Capital Management LLC boosted its position in RBC Bearings by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 282 shares during the period. Integrated Wealth Concepts LLC grew its stake in RBC Bearings by 32.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 303 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of RBC Bearings by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after purchasing an additional 4,253 shares in 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.