RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

by · The Cerbat Gem

RBC Bearings Incorporated (NYSE:RBC – Get Free Report) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $266.17.

Several analysts recently weighed in on RBC shares. Bank of America raised RBC Bearings from an “underperform” rating to a “buy” rating and raised their price objective for the company from $230.00 to $280.00 in a research note on Wednesday. Morgan Stanley lifted their price target on shares of RBC Bearings from $286.00 to $294.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Alembic Global Advisors raised shares of RBC Bearings from a “neutral” rating to an “overweight” rating and set a $267.00 price objective for the company in a research note on Wednesday, August 9th. Truist Financial cut their target price on shares of RBC Bearings from $275.00 to $271.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Finally, Royal Bank of Canada upgraded shares of RBC Bearings from a “neutral” rating to an “overweight” rating in a report on Wednesday, August 9th.

View Our Latest Stock Report on RBC Bearings

Insider Activity

In related news, VP John J. Feeney sold 300 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $255.90, for a total value of $76,770.00. Following the sale, the vice president now owns 2,756 shares of the company’s stock, valued at $705,260.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP John J. Feeney sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $255.90, for a total value of $76,770.00. Following the sale, the vice president now directly owns 2,756 shares in the company, valued at $705,260.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John J. Feeney sold 302 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $241.26, for a total transaction of $72,860.52. Following the sale, the vice president now directly owns 3,056 shares of the company’s stock, valued at approximately $737,290.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,867 shares of company stock valued at $4,605,153. Insiders own 2.90% of the company’s stock.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the business. Comerica Bank boosted its position in shares of RBC Bearings by 1,915.4% during the 3rd quarter. Comerica Bank now owns 68,706 shares of the industrial products company’s stock valued at $16,086,000 after purchasing an additional 65,297 shares in the last quarter. Diversified Trust Co grew its position in shares of RBC Bearings by 24.2% during the 3rd quarter. Diversified Trust Co now owns 4,023 shares of the industrial products company’s stock worth $942,000 after buying an additional 785 shares during the period. TimesSquare Capital Management LLC lifted its position in shares of RBC Bearings by 12.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 101,337 shares of the industrial products company’s stock valued at $23,726,000 after acquiring an additional 11,237 shares during the period. SkyView Investment Advisors LLC increased its stake in RBC Bearings by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 3,249 shares of the industrial products company’s stock valued at $761,000 after purchasing an additional 71 shares in the last quarter. Finally, Creative Planning increased its stake in RBC Bearings by 8.0% in the third quarter. Creative Planning now owns 1,628 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 120 shares in the last quarter.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $254.51 on Thursday. The company has a current ratio of 3.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company has a market cap of $7.40 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 5.14 and a beta of 1.42. The company has a 50 day moving average of $232.56 and a 200-day moving average of $224.80. RBC Bearings has a 1-year low of $195.18 and a 1-year high of $257.98.

RBC Bearings (NYSE:RBC – Get Free Report) last released its earnings results on Thursday, November 9th. The industrial products company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.16. RBC Bearings had a return on equity of 9.62% and a net margin of 12.32%. The firm had revenue of $385.57 million during the quarter, compared to analysts’ expectations of $390.18 million. As a group, equities research analysts forecast that RBC Bearings will post 8.16 earnings per share for the current fiscal year.

About RBC Bearings

(Get Free Report

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.

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