RBC Bearings (NYSE:RBC) Price Target Raised to $410.00

RBC Bearings (NYSE:RBC) had its price target boosted by stock analysts at Truist Financial from $351.00 to $410.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 12.29% from the company’s current price.

A number of other research firms have also weighed in on RBC. KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $330.00 to $335.00 in a report 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $338.50.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $16.38 during trading hours on Monday, reaching $365.13. 355,585 shares of the company’s stock were exchanged, compared to its average volume of 140,035. The business has a fifty day moving average of $316.93 and a two-hundred day moving average of $301.27. The company has a market capitalization of $11.47 billion, a P/E ratio of 49.73, a price-to-earnings-growth ratio of 4.81 and a beta of 1.58. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings has a 1 year low of $240.36 and a 1 year high of $364.96.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data 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). The business had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. As a group, research analysts predict that RBC Bearings will post 8.91 earnings per share 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 the business. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 7.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 97,390 shares of the industrial products company’s stock valued at $29,133,000 after acquiring an additional 6,785 shares in the last quarter. Venturi Wealth Management LLC raised its position in RBC Bearings by 2,405.3% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 457 shares in the last quarter. Truist Financial Corp boosted its stake in shares of RBC Bearings by 1.0% in the 4th quarter. Truist Financial Corp now owns 20,268 shares of the industrial products company’s stock valued at $6,063,000 after buying an additional 199 shares during the period. CIBC Asset Management Inc grew its position in shares of RBC Bearings by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after buying an additional 47 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of RBC Bearings by 5.5% during the fourth quarter. Principal Financial Group Inc. now owns 92,649 shares of the industrial products company’s stock worth $27,715,000 after buying an additional 4,854 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.