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

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $615.44.

A number of research analysts have commented on the company. Guggenheim initiated coverage on RBC Bearings in a research report on Monday, September 14th. They set a “buy” rating and a $600.00 price target for the company. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $686.00 target price on shares of RBC Bearings in a research note on Tuesday, August 4th. Truist Financial upped their target price on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

RBC Bearings Trading Up 1.5%

Shares of RBC opened at $516.05 on Thursday. The stock has a market capitalization of $16.34 billion, a P/E ratio of 50.99, a PEG ratio of 2.78 and a beta of 1.38. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $519.38 and a two-hundred day simple moving average of $563.85. RBC Bearings has a twelve month low of $364.50 and a twelve month high of $667.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to the consensus estimate 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. On average, research analysts anticipate that RBC Bearings will post 14.03 EPS for the current year.

Institutional Investors Weigh In On RBC Bearings

Institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its stake in shares of RBC Bearings by 17.8% during the 2nd quarter. QRG Capital Management Inc. now owns 1,442 shares of the industrial products company’s stock valued at $929,000 after purchasing an additional 218 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of RBC Bearings by 56.6% during the second quarter. Sequoia Financial Advisors LLC now owns 847 shares of the industrial products company’s stock valued at $546,000 after buying an additional 306 shares during the period. Engineers Gate Manager LP raised its stake in RBC Bearings by 2,291.8% in the second quarter. Engineers Gate Manager LP now owns 14,877 shares of the industrial products company’s stock worth $9,582,000 after buying an additional 14,255 shares in the last quarter. NewEdge Advisors LLC raised its stake in RBC Bearings by 10.2% in the second quarter. NewEdge Advisors LLC now owns 3,160 shares of the industrial products company’s stock worth $2,035,000 after buying an additional 293 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in RBC Bearings by 22.1% in the second quarter. IFP Advisors Inc now owns 1,848 shares of the industrial products company’s stock worth $1,190,000 after buying an additional 335 shares during the period.

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.