RBC Bearings (NYSE:RBC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of RBC Bearings (NYSE:RBC) from a buy rating to a hold rating in a report published on Sunday morning.

A number of other equities analysts also recently commented on RBC. Truist Financial lifted their price objective on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a report on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Finally, KeyCorp raised their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $574.67.

RBC Bearings Trading Down 1.0%

NYSE:RBC opened at $559.99 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $523.47 and its two-hundred day moving average is $451.71. RBC Bearings has a 52 week low of $297.28 and a 52 week high of $589.16. The company has a market cap of $17.71 billion, a PE ratio of 65.88, a P/E/G ratio of 3.17 and a beta of 1.47.

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

Hedge Funds Weigh In On RBC Bearings

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in shares of RBC Bearings by 106.5% in the 4th 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 period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $35,000. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the first quarter valued at approximately $26,000. Larson Financial Group LLC raised its holdings in shares of RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of RBC Bearings during the third quarter worth approximately $36,000.

About RBC Bearings

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.