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

RBC Bearings Incorporated (NYSE:RBC) has earned a consensus rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $574.6667.

A number of equities research analysts recently weighed in on RBC shares. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday. Truist Financial raised their price target on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. KeyCorp raised their price target on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd.

RBC Bearings Trading Down 2.0%

RBC stock opened at $586.00 on Thursday. The business has a fifty day moving average price of $557.33 and a 200 day moving average price of $482.34. RBC Bearings has a fifty-two week low of $310.95 and a fifty-two week high of $603.67. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 68.94, a P/E/G ratio of 2.86 and a beta of 1.49. 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 (NYSE:RBC) last released its quarterly earnings results 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. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The firm had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. During the same period last year, the firm posted $2.34 EPS. The business’s revenue was up 17.0% on a year-over-year basis. Analysts expect that RBC Bearings will post 9.16 EPS for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in shares of RBC Bearings by 7.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 48,359 shares of the industrial products company’s stock valued at $21,686,000 after buying an additional 3,226 shares during the period. Corient Private Wealth LLC increased its stake in shares of RBC Bearings by 7.8% in the 4th quarter. Corient Private Wealth LLC now owns 9,630 shares of the industrial products company’s stock valued at $4,319,000 after buying an additional 694 shares during the period. MidFirst Bank acquired a new stake in shares of RBC Bearings in the 4th quarter valued at $561,000. Pacer Advisors Inc. increased its stake in shares of RBC Bearings by 13.1% in the 4th quarter. Pacer Advisors Inc. now owns 4,755 shares of the industrial products company’s stock valued at $2,132,000 after buying an additional 549 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of RBC Bearings in the 4th quarter valued at $478,000.

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.