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

Shares of RBC Bearings Incorporated (NYSE:RBC – Get Rating) have earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $245.00.

Several equities research analysts have recently commented on RBC shares. Citigroup lifted their price objective on shares of RBC Bearings from $245.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 14th. Morgan Stanley lowered their price objective on shares of RBC Bearings from $293.00 to $283.00 and set an “overweight” rating for the company in a research note on Monday, December 12th. Wells Fargo & Company lifted their price objective on shares of RBC Bearings from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Monday, February 13th. Royal Bank of Canada cut shares of RBC Bearings from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 20th. Finally, Truist Financial raised their target price on shares of RBC Bearings from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, February 13th.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 2,000 shares of RBC Bearings stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $235.32, for a total value of $470,640.00. Following the completion of the transaction, the director now owns 23,083 shares of the company’s stock, valued at $5,431,891.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBC. Price T Rowe Associates Inc. MD grew its position in shares of RBC Bearings by 21.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,580,868 shares of the industrial products company’s stock valued at $477,332,000 after purchasing an additional 463,801 shares during the period. BlackRock Inc. grew its position in shares of RBC Bearings by 1.6% in the first quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after purchasing an additional 33,956 shares during the period. Durable Capital Partners LP grew its position in shares of RBC Bearings by 28.2% in the first quarter. Durable Capital Partners LP now owns 1,604,993 shares of the industrial products company’s stock valued at $311,176,000 after purchasing an additional 353,074 shares during the period. Wasatch Advisors Inc. grew its position in shares of RBC Bearings by 3.5% in the first quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of the industrial products company’s stock valued at $282,757,000 after purchasing an additional 49,064 shares during the period. Finally, State Street Corp grew its position in shares of RBC Bearings by 2.8% in the second quarter. State Street Corp now owns 576,044 shares of the industrial products company’s stock valued at $106,539,000 after purchasing an additional 15,645 shares during the period.

RBC Bearings Trading Up 2.4 %

NYSE:RBC opened at $235.42 on Thursday. RBC Bearings has a 12 month low of $152.90 and a 12 month high of $264.94. The firm has a fifty day simple moving average of $228.70 and a 200-day simple moving average of $231.93. The company has a current ratio of 3.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.83 billion, a P/E ratio of 53.87, a PEG ratio of 5.80 and a beta of 1.42.

About RBC Bearings

(Get Rating)

RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and products. It operates through the Aerospace and Defense, and Industrial segments. The Aerospace and Defense segment represents the end markets for the company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, and sea and ground defense applications.