RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Hold” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBCGet Rating) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $245.00.

A number of brokerages have recently weighed in on RBC. Bank Of America (Bofa) cut shares of RBC Bearings from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 14th. Bank of America reissued an “underperform” rating and set a $235.00 price target (up from $193.00) on shares of RBC Bearings in a research report on Wednesday, September 14th. Morgan Stanley reduced their price target on shares of RBC Bearings from $293.00 to $283.00 and set an “overweight” rating on the stock in a research report on Monday, December 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $220.00 price target (down from $269.00) on shares of RBC Bearings in a research report on Tuesday. Finally, Alembic Global Advisors cut shares of RBC Bearings from an “overweight” rating to a “neutral” rating and set a $217.00 price objective on the stock. in a research report on Tuesday, December 20th.

RBC Bearings Price Performance

RBC opened at $212.81 on Wednesday. The company has a fifty day moving average price of $225.87 and a two-hundred day moving average price of $226.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.16 and a current ratio of 2.98. RBC Bearings has a 52 week low of $152.90 and a 52 week high of $264.94. The firm has a market capitalization of $6.18 billion, a PE ratio of 68.21, a P/E/G ratio of 5.30 and a beta of 1.37.

RBC Bearings (NYSE:RBCGet Rating) last released its earnings results on Thursday, November 10th. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.18. The firm had revenue of $369.17 million during the quarter, compared to analyst estimates of $361.32 million. RBC Bearings had a net margin of 7.98% and a return on equity of 7.48%. As a group, analysts anticipate that RBC Bearings will post 6.84 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 1,500 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $241.67, for a total transaction of $362,505.00. Following the sale, the chief executive officer now directly owns 275,339 shares of the company’s stock, valued at approximately $66,541,176.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its position in RBC Bearings by 1.7% during the 2nd quarter. Park Avenue Securities LLC now owns 3,251 shares of the industrial products company’s stock worth $601,000 after buying an additional 54 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of RBC Bearings by 7.6% during the 2nd quarter. Kennedy Capital Management Inc. now owns 1,243 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 88 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of RBC Bearings by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,456 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 108 shares during the last quarter. FMR LLC increased its stake in shares of RBC Bearings by 10.3% during the 2nd quarter. FMR LLC now owns 1,191 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 111 shares during the last quarter. Finally, First Bank & Trust increased its stake in shares of RBC Bearings by 5.4% during the 2nd quarter. First Bank & Trust now owns 2,281 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 116 shares during the last quarter.

RBC Bearings Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for RBC Bearings (NYSE:RBC)

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