Analysts Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $324.67

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $324.67.

Several research analysts have weighed in on RBC shares. Truist Financial upped their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. 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 report on Friday, November 22nd. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in RBC Bearings by 528.3% in the 2nd quarter. SG Americas Securities LLC now owns 3,569 shares of the industrial products company’s stock worth $963,000 after buying an additional 3,001 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in RBC Bearings during the second quarter worth $231,000. &PARTNERS acquired a new position in RBC Bearings during the 2nd quarter valued at $500,000. DT Investment Partners LLC bought a new stake in RBC Bearings in the 2nd quarter valued at $35,000. Finally, Argent Capital Management LLC grew its position in RBC Bearings by 46.7% in the 2nd quarter. Argent Capital Management LLC now owns 3,001 shares of the industrial products company’s stock worth $810,000 after purchasing an additional 955 shares during the last quarter.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $306.28 on Friday. The stock has a market cap of $9.62 billion, a PE ratio of 44.71, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55. RBC Bearings has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $312.86 and a 200-day simple moving average of $294.93.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. 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 company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that RBC Bearings will post 8.94 EPS for the current fiscal year.

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.