RBC Bearings (NYSE:RBC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RBC Bearings (NYSE:RBC) from a hold rating to a buy rating in a research report released on Saturday morning.

RBC has been the subject of several other research reports. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Morgan Stanley upped their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Royal Bank Of Canada set a $645.00 price target on shares of RBC Bearings in a research report on Monday, August 3rd. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target for the company in a research report on Monday, August 3rd. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $623.00.

RBC Bearings Stock Down 2.0%

Shares of NYSE:RBC opened at $556.10 on Friday. RBC Bearings has a 52-week low of $364.50 and a 52-week high of $667.69. The firm has a market capitalization of $17.61 billion, a P/E ratio of 54.95, a P/E/G ratio of 3.07 and a beta of 1.40. The stock has a 50 day moving average price of $596.86 and a 200-day moving average price of $574.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 2.53.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates 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%.The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.84 EPS. As a group, equities research analysts anticipate that RBC Bearings will post 14.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the transaction, the director owned 7,254 shares in the company, valued at $4,614,341.94. The trade was a 7.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward Stewart sold 600 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the sale, the director directly owned 21,337 shares in the company, valued at $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,425 shares of company stock worth $885,400 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of RBC Bearings

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in shares of RBC Bearings by 0.5% during the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after buying an additional 4,568 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RBC Bearings by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after acquiring an additional 48,419 shares during the period. Maren Capital LLC raised its holdings in shares of RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock valued at $201,934,000 after purchasing an additional 6,373 shares during the last quarter. First Trust Advisors LP lifted its position in RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock valued at $222,516,000 after purchasing an additional 88,468 shares during the period. Finally, Invesco Ltd. boosted its holdings in RBC Bearings by 6.2% in the fourth quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company’s stock worth $181,514,000 after purchasing an additional 23,616 shares during the last quarter.

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.