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

RBC Bearings Incorporated (NYSE:RBCGet Free Report) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $623.00.

RBC has been the topic of several research reports. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price objective on the stock in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a research report on Tuesday, August 4th. Morgan Stanley lifted their price target on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings cut RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th.

View Our Latest Stock Report on RBC Bearings

Insider Transactions at RBC Bearings

In other news, Director Dolores J. Ennico sold 600 shares of RBC Bearings 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John J. Feeney sold 225 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total transaction of $148,036.50. Following the transaction, the vice president owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently made changes to their positions in the business. Ritholtz Wealth Management increased its holdings in RBC Bearings by 2.9% during the 1st quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 17 shares during the period. Assetmark Inc. grew its position in shares of RBC Bearings by 3.5% during the first quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock worth $303,000 after buying an additional 19 shares in the last quarter. Lido Advisors LLC increased its stake in shares of RBC Bearings by 3.5% during the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock worth $278,000 after buying an additional 22 shares during the period. UMB Bank n.a. increased its stake in shares of RBC Bearings by 7.1% during the fourth quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock worth $156,000 after buying an additional 23 shares during the period. Finally, Millstone Evans Group LLC raised its holdings in RBC Bearings by 45.3% in the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 24 shares in the last quarter.

RBC Bearings Trading Down 1.9%

Shares of NYSE RBC opened at $476.94 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $548.90 and a two-hundred day simple moving average of $571.24. The firm has a market cap of $15.10 billion, a PE ratio of 47.13, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. RBC Bearings has a twelve month low of $364.50 and a twelve month high of $667.69.

RBC Bearings (NYSE:RBCGet Free Report) last posted its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.46. The business had revenue of $519.50 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.84 EPS. Analysts expect that RBC Bearings will post 14.12 earnings per share for the current fiscal year.

About RBC Bearings

(Get Free Report)

RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.

The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.

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Analyst Recommendations for RBC Bearings (NYSE:RBC)

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