RBC Bearings (NYSE:RBC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of RBC Bearings Incorporated (NYSE:RBC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $296.29 and traded as high as $299.70. RBC Bearings shares last traded at $299.14, with a volume of 106,959 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RBC. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a research note on Friday, November 22nd. Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four research 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 a consensus price target of $324.67.

RBC Bearings Trading Up 1.3 %

The company has a market cap of $9.48 billion, a P/E ratio of 44.05, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55. The firm has a 50-day moving average of $315.48 and a 200 day moving average of $296.32. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS 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 company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the business earned $2.07 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

Institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new stake in RBC Bearings in the 4th quarter valued at about $296,000. GAMMA Investing LLC boosted its holdings in RBC Bearings by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 517 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 77 shares in the last quarter. Retirement Systems of Alabama grew its stake in RBC Bearings by 6.7% in the third quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company’s stock valued at $11,450,000 after acquiring an additional 2,405 shares during the period. Synovus Financial Corp increased its holdings in shares of RBC Bearings by 6.2% during the third quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company’s stock valued at $4,141,000 after acquiring an additional 805 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of RBC Bearings by 36.0% during the third quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company’s stock worth $903,000 after purchasing an additional 798 shares during the period.

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.