Brokerages Set RBC Bearings Incorporated (NYSE:RBC) PT at $275.86

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $275.86.

A number of research firms have recently issued reports on RBC. Truist Financial increased their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Citigroup increased their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently made changes to their positions in RBC. Global Retirement Partners LLC lifted its stake in shares of RBC Bearings by 16.1% during the third quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock worth $90,000 after buying an additional 53 shares during the period. SG Americas Securities LLC lifted its stake in shares of RBC Bearings by 123.8% during the third quarter. SG Americas Securities LLC now owns 3,059 shares of the industrial products company’s stock worth $716,000 after buying an additional 1,692 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of RBC Bearings during the third quarter worth $807,000. DAVENPORT & Co LLC lifted its stake in shares of RBC Bearings by 0.9% during the third quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock worth $1,643,000 after buying an additional 63 shares during the period. Finally, Oak Thistle LLC acquired a new stake in shares of RBC Bearings during the third quarter worth $721,000.

RBC Bearings Price Performance

NYSE RBC opened at $244.25 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28. The firm’s 50 day moving average price is $263.73 and its 200-day moving average price is $258.59. RBC Bearings has a 52-week low of $195.18 and a 52-week high of $288.16. The company has a market cap of $6.88 billion, a PE ratio of 40.84, a P/E/G ratio of 4.68 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The business had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. Sell-side analysts forecast that RBC Bearings will post 8.02 EPS for the current fiscal year.

About RBC Bearings

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