RBC Bearings (NYSE:RBC) Now Covered by Analysts at Raymond James

Raymond James assumed coverage on shares of RBC Bearings (NYSE:RBC) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on the stock. Morgan Stanley boosted their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. The Goldman Sachs Group increased their target price on RBC Bearings from $245.00 to $276.00 and gave the stock a neutral rating in a research note on Tuesday, May 28th. William Blair began coverage on RBC Bearings in a research note on Wednesday, May 29th. They issued an outperform rating on the stock. Finally, Truist Financial increased their price objective on RBC Bearings from $309.00 to $328.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $286.57.

RBC Bearings Trading Down 0.5 %

RBC opened at $269.78 on Friday. The company has a quick ratio of 1.16, a current ratio of 3.28 and a debt-to-equity ratio of 0.43. RBC Bearings has a 52 week low of $203.65 and a 52 week high of $299.24. The business’s 50 day moving average is $272.39 and its two-hundred day moving average is $270.53. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 3.30 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.22. The firm had revenue of $413.70 million for the quarter, compared to analyst estimates of $414.21 million. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $2.06 earnings per share. On average, research analysts predict that RBC Bearings will post 8.93 EPS for the current year.

Insider Activity

In related news, Director Michael H. Ambrose sold 600 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $279.16, for a total value of $167,496.00. Following the sale, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $1,878,188.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

A number of large investors have recently bought and sold shares of RBC. LPL Financial LLC raised its holdings in shares of RBC Bearings by 7.1% in the third quarter. LPL Financial LLC now owns 15,086 shares of the industrial products company’s stock worth $3,503,000 after acquiring an additional 995 shares during the last quarter. Federated Hermes Inc. acquired a new position in RBC Bearings in the 3rd quarter valued at about $924,000. Northern Trust Corp lifted its holdings in RBC Bearings by 50.6% in the 3rd quarter. Northern Trust Corp now owns 232,770 shares of the industrial products company’s stock valued at $54,498,000 after purchasing an additional 78,224 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of RBC Bearings by 0.6% during the 3rd quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock worth $2,908,000 after purchasing an additional 70 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of RBC Bearings by 55.6% during the third quarter. Quadrature Capital Ltd now owns 10,067 shares of the industrial products company’s stock worth $2,356,000 after buying an additional 3,599 shares in the last quarter.

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.