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

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $324.67.

A number of equities analysts recently weighed in on the stock. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday. Truist Financial increased their price objective on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the company from $330.00 to $335.00 in a research note on Thursday.

Insider Buying and Selling

In related news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This trade represents a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,327 shares of company stock worth $11,068,921. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in RBC Bearings by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock valued at $566,549,000 after purchasing an additional 20,491 shares during the last quarter. Vanguard Group Inc. raised its stake in RBC Bearings by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after buying an additional 19,574 shares during the period. CWM LLC lifted its position in shares of RBC Bearings by 41.3% in the second quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock valued at $2,815,000 after buying an additional 3,051 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after buying an additional 13,395 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of RBC Bearings during the 2nd quarter worth approximately $2,380,000.

RBC Bearings Trading Up 3.8 %

NYSE:RBC opened at $336.82 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The business’s 50-day simple moving average is $297.72 and its 200-day simple moving average is $288.60. RBC Bearings has a fifty-two week low of $240.36 and a fifty-two week high of $337.19. The stock has a market capitalization of $10.58 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 3.71 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. Sell-side analysts expect that RBC Bearings will post 8.94 earnings per share for the current fiscal year.

About RBC Bearings

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.