Analysts Set RBC Bearings Incorporated (NYSE:RBC) PT at $275.86

RBC Bearings Incorporated (NYSE:RBC) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $275.86.

Several analysts recently issued reports on the company. Truist Financial raised their target price on RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Citigroup raised their target price on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th.

Insider Activity

In other news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the transaction, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of RBC Bearings by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,711,824 shares of the industrial products company’s stock valued at $772,572,000 after purchasing an additional 17,286 shares during the last quarter. Wasatch Advisors LP raised its holdings in RBC Bearings by 1.6% in the 1st quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock worth $483,369,000 after acquiring an additional 28,749 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in RBC Bearings by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after acquiring an additional 99,066 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in RBC Bearings by 0.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock worth $198,154,000 after acquiring an additional 3,415 shares during the last quarter. Finally, Geneva Capital Management LLC raised its holdings in RBC Bearings by 0.5% in the 4th quarter. Geneva Capital Management LLC now owns 585,988 shares of the industrial products company’s stock worth $166,942,000 after acquiring an additional 2,668 shares during the last quarter.

RBC Bearings Stock Down 0.3 %

Shares of NYSE:RBC opened at $244.25 on Friday. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.88 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 4.68 and a beta of 1.45. RBC Bearings has a 12-month low of $195.18 and a 12-month high of $288.16. The stock’s 50-day moving average price is $263.73 and its 200-day moving average price is $258.59.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). The business had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. On average, equities analysts anticipate that RBC Bearings will post 8.02 earnings per share for the current year.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.