RBC Bearings Incorporated (NYSE:RBC) Receives $623.00 Consensus PT from Brokerages

RBC Bearings Incorporated (NYSE:RBC) has been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $623.00.

A number of brokerages have recently issued reports on RBC. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price on the stock in a report on Monday, August 3rd. Morgan Stanley lifted their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Royal Bank Of Canada set a $645.00 price target on RBC Bearings in a research report on Monday, August 3rd. Truist Financial upped their price objective on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th.

Insider Buying and Selling

In other RBC Bearings news, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the transaction, the director directly owned 7,254 shares of the company’s stock, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 225 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by insiders.

Institutional Trading of RBC Bearings

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management raised its position in shares of RBC Bearings by 2.9% during the first quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 17 shares during the period. Assetmark Inc. grew its position in RBC Bearings by 3.5% in the 1st quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 19 shares during the period. Lido Advisors LLC grew its position in RBC Bearings by 3.5% in the 4th quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 22 shares during the period. UMB Bank n.a. increased its stake in RBC Bearings by 7.1% during the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 23 shares in the last quarter. Finally, Millstone Evans Group LLC increased its stake in RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares in the last quarter.

RBC Bearings Stock Up 3.7%

RBC stock opened at $495.98 on Friday. The company has a market cap of $15.70 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 2.65 and a beta of 1.39. RBC Bearings has a twelve month low of $364.50 and a twelve month high of $667.69. The business has a 50 day moving average price of $546.74 and a two-hundred day moving average price of $570.72. 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 results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million for the quarter, compared to analyst estimates of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.84 earnings per share. Analysts anticipate that RBC Bearings will post 14.12 EPS for the current fiscal year.

About RBC Bearings

RBC Bearings Incorporated is a manufacturer of highly engineered bearings and motion-control components. The company designs and produces products used to reduce friction, support rotating or moving equipment, and manage loads in demanding operating environments. Its offerings include plain bearings, roller bearings, ball bearings, spherical bearings, rod ends, thrust bearings, and specialty bearing assemblies.

The company supplies components for aerospace and defense applications, industrial machinery, transportation equipment, construction and mining systems, medical devices, and energy-related equipment.