RBC Bearings (NYSE:RBC) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of RBC Bearings (NYSE:RBCFree Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $686.00 target price on shares of RBC Bearings in a research note on Tuesday. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target for the company in a research note on Monday, August 3rd. Finally, Truist Financial lifted their price target on shares of RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus target price of $623.00.

View Our Latest Research Report on RBC Bearings

RBC Bearings Stock Up 0.2%

RBC stock opened at $567.91 on Friday. The stock has a market cap of $17.98 billion, a P/E ratio of 56.12, a P/E/G ratio of 3.07 and a beta of 1.40. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $597.07 and its two-hundred day simple moving average is $573.11. RBC Bearings has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBCGet Free Report) last announced its earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The business’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted $2.84 EPS. Analysts expect that RBC Bearings will post 14.12 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In other news, Director Dolores J. Ennico sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the sale, the director owned 7,254 shares of the company’s stock, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John J. Feeney sold 225 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the sale, the vice president owned 2,378 shares in the company, valued at $1,564,581.32. The trade was a 8.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,425 shares of company stock valued at $885,400 over the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in RBC Bearings during the fourth quarter valued at approximately $175,909,000. Northwestern Mutual Wealth Management Co. lifted its stake in RBC Bearings by 39,846.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock worth $83,295,000 after purchasing an additional 185,284 shares in the last quarter. Cartenna Capital LP purchased a new stake in RBC Bearings in the 4th quarter worth approximately $76,233,000. Invesco Ltd. boosted its holdings in RBC Bearings by 60.5% in the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after purchasing an additional 143,710 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of RBC Bearings by 2,055.5% during the 4th quarter. AQR Capital Management LLC now owns 144,741 shares of the industrial products company’s stock valued at $64,906,000 after purchasing an additional 138,026 shares in the last quarter.

RBC Bearings Company Profile

(Get Free Report)

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.

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Analyst Recommendations for RBC Bearings (NYSE:RBC)

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