RBC Bearings’ (RBC) Buy Rating Reaffirmed at Truist Financial

RBC Bearings (NYSE:RBC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a research report issued on Monday,Benzinga reports. They presently have a $405.00 target price on the industrial products company’s stock, up from their previous target price of $375.00. Truist Financial’s price objective points to a potential upside of 9.39% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Morgan Stanley raised their target price on RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. KeyCorp raised their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.20.

RBC Bearings Price Performance

RBC Bearings stock traded up $2.08 during trading on Monday, reaching $370.25. The company had a trading volume of 11,689 shares, compared to its average volume of 158,964. The firm has a market capitalization of $11.63 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The firm’s 50-day simple moving average is $333.48 and its 200 day simple moving average is $330.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. RBC Bearings has a 1-year low of $260.53 and a 1-year high of $372.95.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $440.26 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. As a group, equities research analysts anticipate that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Torray Investment Partners LLC grew its holdings in RBC Bearings by 0.3% in the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock valued at $2,533,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC boosted its position in shares of RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of RBC Bearings by 0.6% in the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 36 shares during the period. Rafferty Asset Management LLC increased its position in RBC Bearings by 6.4% during the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 43 shares during the last quarter. Finally, First Bank & Trust raised its stake in RBC Bearings by 2.1% during the first quarter. First Bank & Trust now owns 2,165 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 44 shares during the period.

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.