RBC Bearings Incorporated (NYSE:RBC) Stock Has Average Price Target of $615.44

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $615.44.

Several research firms recently weighed in on RBC. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Guggenheim assumed coverage on RBC Bearings in a report on Monday, September 14th. They issued a “buy” rating and a $600.00 price target for the company. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Raymond James Financial raised RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price objective on the stock in a report on Monday, August 3rd. Finally, Truist Financial upped their target price on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th.

Institutional Trading of RBC Bearings

Institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC lifted its position in shares of RBC Bearings by 4.0% during the 3rd quarter. Argent Capital Management LLC now owns 3,640 shares of the industrial products company’s stock worth $1,817,000 after buying an additional 139 shares during the period. QRG Capital Management Inc. grew its position in RBC Bearings by 17.8% in the second quarter. QRG Capital Management Inc. now owns 1,442 shares of the industrial products company’s stock valued at $929,000 after acquiring an additional 218 shares during the period. Sequoia Financial Advisors LLC raised its stake in RBC Bearings by 56.6% during the second quarter. Sequoia Financial Advisors LLC now owns 847 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 306 shares in the last quarter. Engineers Gate Manager LP raised its stake in RBC Bearings by 2,291.8% during the second quarter. Engineers Gate Manager LP now owns 14,877 shares of the industrial products company’s stock worth $9,582,000 after acquiring an additional 14,255 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of RBC Bearings by 10.2% during the second quarter. NewEdge Advisors LLC now owns 3,160 shares of the industrial products company’s stock valued at $2,035,000 after acquiring an additional 293 shares during the period.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $513.50 on Thursday. RBC Bearings has a 12 month low of $364.50 and a 12 month high of $667.69. The company has a market cap of $16.26 billion, a P/E ratio of 50.74, a P/E/G ratio of 2.78 and a beta of 1.38. The business’s 50 day moving average is $517.94 and its two-hundred day moving average is $563.75. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.46. The company had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.RBC Bearings’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.84 earnings per share. On average, equities analysts expect that RBC Bearings will post 14.03 EPS for the current year.

About RBC Bearings

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company’s product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.