RBC Bearings’ (RBC) “Outperform” Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of RBC Bearings (NYSE:RBC) in a research note issued to investors on Tuesday morning,RTT News reports.

A number of other brokerages also recently issued reports on RBC. Truist Financial boosted their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average target price of $324.67.

RBC Bearings Stock Performance

Shares of RBC opened at $339.66 on Tuesday. The firm has a market capitalization of $10.67 billion, a P/E ratio of 49.59, a PEG ratio of 4.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings has a one year low of $240.36 and a one year high of $343.66. The business has a fifty day moving average of $300.71 and a 200 day moving average of $289.93.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. During the same quarter last year, the company earned $2.07 EPS. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that RBC Bearings will post 8.94 EPS for the current year.

Insider Activity

In related news, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 34,127 shares of company stock valued at $9,839,707 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBC. UMB Bank n.a. grew its stake in RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. DT Investment Partners LLC bought a new stake in RBC Bearings during the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings during the 2nd quarter worth $41,000. Canada Pension Plan Investment Board purchased a new position in shares of RBC Bearings during the second quarter valued at $54,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of RBC Bearings in the second quarter valued at about $68,000.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.