RBC Bearings Incorporated (NYSE:RBC) Given Average Recommendation of “Buy” by Brokerages

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $560.50.

RBC has been the topic of a number of recent analyst reports. KeyCorp raised their price objective on RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th.

RBC Bearings Stock Up 1.4%

RBC stock opened at $570.49 on Wednesday. The firm has a market cap of $18.04 billion, a PE ratio of 67.12, a PEG ratio of 3.17 and a beta of 1.52. RBC Bearings has a 1 year low of $297.28 and a 1 year high of $571.93. The company has a fifty day simple moving average of $500.63 and a 200 day simple moving average of $439.79. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The firm had revenue of $461.60 million for the quarter, compared to the consensus estimate of $460.69 million. During the same period in the prior year, the business posted $2.34 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that RBC Bearings will post 9.16 EPS for the current fiscal year.

Institutional Trading of RBC Bearings

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new position in RBC Bearings in the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. grew its stake in shares of RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC increased its position in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in RBC Bearings during the 4th quarter valued at $35,000. Finally, Root Financial Partners LLC bought a new stake in RBC Bearings in the 3rd quarter valued at $36,000.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.