RBC Bearings (NYSE:RBC) Price Target Raised to $351.00

RBC Bearings (NYSE:RBC) had its target price hoisted by equities research analysts at Truist Financial from $347.00 to $351.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 14.65% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.33.

RBC Bearings Price Performance

Shares of RBC stock opened at $306.15 on Tuesday. The business has a fifty day simple moving average of $317.58 and a 200 day simple moving average of $298.09. The company has a market cap of $9.62 billion, a P/E ratio of 44.69, a P/E/G ratio of 4.50 and a beta of 1.57. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings has a twelve month low of $240.36 and a twelve month high of $346.77.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $403.89 million. During the same period last year, the company posted $2.07 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that RBC Bearings will post 8.94 EPS for the current fiscal year.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently bought and sold shares of RBC. UMB Bank n.a. grew its position in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in RBC Bearings in the second quarter valued at approximately $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings in RBC Bearings by 80.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 129 shares during the last quarter. Blue Trust Inc. increased its position in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the period. Finally, Quarry LP lifted its position in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 271 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.