RBC Bearings (NYSE:RBC) Receives “Outperform” Rating from William Blair

RBC Bearings (NYSE:RBC)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a research note issued on Tuesday,RTT News reports.

A number of other equities research analysts have also issued reports on the company. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research note on Friday, November 22nd. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and raised their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial raised their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Stock Performance

Shares of RBC opened at $339.66 on Tuesday. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 49.49, a PEG ratio of 4.66 and a beta of 1.51. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $299.76 and a two-hundred day simple moving average of $289.58. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $343.66.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. On average, analysts expect that RBC Bearings will post 8.94 EPS for the current year.

Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares in the company, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 34,127 shares of company stock worth $9,839,707 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Trading of RBC Bearings

Several large investors have recently added to or reduced their stakes in RBC. Russell Investments Group Ltd. grew its stake in RBC Bearings by 31.2% during the 1st quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 772 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of RBC Bearings by 60.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,195 shares of the industrial products company’s stock valued at $323,000 after buying an additional 448 shares during the period. Comerica Bank lifted its holdings in shares of RBC Bearings by 2.7% in the 1st quarter. Comerica Bank now owns 70,324 shares of the industrial products company’s stock valued at $19,012,000 after buying an additional 1,836 shares during the period. Atria Investments Inc lifted its holdings in shares of RBC Bearings by 3.1% in the 1st quarter. Atria Investments Inc now owns 4,882 shares of the industrial products company’s stock valued at $1,320,000 after buying an additional 145 shares during the period. Finally, Keynote Financial Services LLC acquired a new position in shares of RBC Bearings in the 1st quarter valued at about $218,000.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.