RBC Bearings Incorporated (NYSE:RBC – Get Rating) has been assigned an average rating of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $241.14.
RBC has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of RBC Bearings from $285.00 to $293.00 and gave the company an “overweight” rating in a report on Monday, November 14th. Bank of America reiterated an “underperform” rating and set a $235.00 price target (up previously from $193.00) on shares of RBC Bearings in a report on Wednesday, September 14th. Citigroup increased their price target on shares of RBC Bearings from $200.00 to $250.00 in a report on Tuesday, August 9th. Bank Of America (Bofa) downgraded shares of RBC Bearings from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 14th. Finally, Truist Financial increased their price objective on shares of RBC Bearings from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 11th.
RBC Bearings Trading Down 1.7 %
NYSE:RBC opened at $245.96 on Tuesday. The company’s 50 day moving average price is $231.43 and its 200-day moving average price is $216.75. RBC Bearings has a 52 week low of $152.90 and a 52 week high of $264.94. The company has a quick ratio of 1.16, a current ratio of 2.98 and a debt-to-equity ratio of 0.62. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 78.83, a PEG ratio of 6.26 and a beta of 1.40.
Insiders Place Their Bets
Institutional Trading of RBC Bearings
Several institutional investors and hedge funds have recently modified their holdings of RBC. Atria Investments LLC raised its position in shares of RBC Bearings by 11.3% during the 1st quarter. Atria Investments LLC now owns 6,847 shares of the industrial products company’s stock valued at $1,327,000 after purchasing an additional 694 shares during the period. Arizona State Retirement System grew its stake in RBC Bearings by 2.0% during the first quarter. Arizona State Retirement System now owns 7,804 shares of the industrial products company’s stock valued at $1,513,000 after acquiring an additional 155 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in RBC Bearings by 2.4% during the first quarter. Envestnet Asset Management Inc. now owns 113,250 shares of the industrial products company’s stock valued at $21,957,000 after acquiring an additional 2,667 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in RBC Bearings by 9.7% during the first quarter. Stephens Investment Management Group LLC now owns 303,169 shares of the industrial products company’s stock valued at $58,778,000 after acquiring an additional 26,907 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in RBC Bearings by 58.4% during the first quarter. Russell Investments Group Ltd. now owns 19,455 shares of the industrial products company’s stock valued at $3,770,000 after acquiring an additional 7,173 shares in the last quarter.
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.
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